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Article: Contract farming: Green evolution ; Agriculture needs a revolution and India Inc growth ventures. If the Government removes archaic hurdles, rural India would blossom.
- Article from:
- India Today
- Article date:
- October 12, 2009
- Author:
CopyrightCopyright 2009 India Today. Provided by ProQuest LLC. (Hide copyright information)
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In 2006, Vikram Puri, CEO of Mahindra Shubhlabh, contracted
farmers in Punjab to grow basmati rice for Rs 1,350 per quintal.
Global demand, supply fluctuations and local speculative buying
pushed the prices to Rs 1,400-1,500 per quintal and about 2,000
farmers in Jalandhar and Kapurthala reneged on their contracts,
causing a loss of Rs 3.6 lakh in actuals and Rs 27 lakh in
opportunity cost.
Rakesh Mittal, Vice-Chairman, Bharti Enterprises
Company: Fieldfresh FoodsCultivating: Babycorn, okra, peppers,
lettuce and mangoesLand aggregated: 2,500 acresInvestment: Rs 170
CRORE*
*Total investment in FieldFreshThis is not just a basmati story;
it's a tale about the chasm between hope and ...