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State Farms Corporation pays Rs 1.57 cr dividend to Govt

Posted on Oct 16, 10:40PM | UNI

The State Farms Corporation of India (SFCI) today announced that it had presented a dividend cheque for Rs 1.57 crore to Agriculture and Food Processing Industries Minister Sharad Pawar.

SFCI is one of the major seed producers in the public sector.

It has been producing seed of various foodgrains, fibre, plantation and fruits crops.

The Corporation is known for its quality seed production and has the market share of about three per cent in the country. The seed is being supplied under schemes of Government of India, State Governments and also through dealers network. It has been earning profit constantly. In 2011-12, it earned a profit of Rs 58.18 crore (before tax).

At present, the Corporation is managing five farms in the total area of 21,908 ha. which are in the state of Rajasthan, Haryana and Karnataka. The Corporation is also managing production of seeds at growers' field. During the year, 8.65 lakh qtls of seed and 2.49 lakh sapling of horticultural crops were produced.

The Corporation has given major thrust to infrastructure development to maintain the quality and purity of seed. Massive expansion for introduction of micro irrigation system and establishment of modern seed processing plants were taken up to increase the seed production.

Recently, a new technology of central pivot irrigation system was introduced, first time in India, for irrigating crops at its Rajasthan farms.

SFCI is also expanding its business in new activities such as utilising of bio-mass for making feed blocks for feeding animals, utilisation of bio-mass for power generation, venturing into warehousing business, fishery, consultancy and hiring business, processing and procurement and others.