Karnataka - Madikeri   

Cardamom cooperative society posts profit

Madikeri: Kodagu Cardamom Marketing Cooperative Society, which was in the red, has posted a net profit of Rs. 1.36 lakh in 2007-08, its president, Machettira K. Kaveraiappa, announced here on Monday.

Mr. Kaveriappa told presspersons here that the society was reeling under an accumulated loss of Rs. 24.18 lakh till recently.

However, thanks to the financial assistance received under the special economic package, on the lines of the Vidarbha Package, amounting to Rs. 16.36 lakh, the society could tide over the crisis.

Growers who had availed themselves of loans from the society had defaulted as the crop prospects failed in the district due to lack of rain and “katte roga”, a disease that destroyed cardamom plants in the early 1980s.

Though the society continued to provide 60 per cent advance price of cardamom or pepper that would be kept at stock in the godowns of the society, not many members were reposing faith in the society, Mr. Kaveriappa said.

The society could turn around as it had started selling items such as cement, barbed wires, PVC pipes, ammunition and other household items.

The society also could earn rents up to Rs. 60,000 every month, he added.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Protect the interests of farmers and labourers, says CPI(M)
Yuva JD(S) for strengthening party
Cardamom cooperative society posts profit
TP to submit Rs. 5-cr. action plan

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu