India’s NAFED Procures More than 8.76 Lakh MTs of Pulses in 2016-17

New Delhi: National Agricultural Cooperative Marketing Federation of India Ltd (NAFED), a National Level Cooperative Marketing Federation of India, has set a record of procurement of Pulses and Oilseeds during the year 2016-17. NAFED has emerged as the leading agency of the union government for undertaking procurement of Pulses and Oilseeds in India.

During the financial year 2016-17, it has achieved procurement of more than 8.76 Lakh metric tons (MTs) of Pulses (Gram 0.20 Lakh MTs, Masoor 0.03 Lakh MTs, Moong 1.29 Lakh MTs, Urad 0.59 MTs and Toor 6.65 Lakh MTs) and more than 2.20 Lakh MTs of Groundnut, Copra and other oilseeds and benefitted the farming community at large by providing them remunerative price for their produce and helping the country in creating buffer stocks and stabilizing the prices of Pulses and Oilseeds.

NAFED has also started disposal of the buffer stocks. A substantial quantity would be supplied to Para-military forces and Defence Sector and also State Government as per their requirements under PDS and other such schemes.

NAFED has undertaken procurement of various commodities to the tune of Rs 5916.00 Crore approximately in this year and earned tentative profit of Rs. 106.00 Crore before interest which is the highest in the last decade and helped turn around financially. The Federation has strongly positioned itself as the ‘Pulse Arm’ of the government.

During the current year also, procurement of Rabi Oilseeds, Pulses such as Mustard seeds, Sunflower seed, Gram, Masoor and others has started and NAFED has already procured 2.95 Lakh MTs upto 30th April, 2017.

The financial package for NAFED is also under active consideration of the Govt. of India and it is likely that a CCEA note would be placed in May, 2017 for approval of the Cabinet.