Home / Business and Economy / Nafed Eyes Rs 40,000 Crore Turnover Boost
Nafed Eyes Rs 40,000 Crore Turnover Boost
12 Jul
Summary
- Nafed aims to hit Rs 40,000 crore turnover this fiscal.
- Expansion into retail and increased buffer procurement drives growth.
- Net profit for 2024-25 was Rs 565 crore.
Nafed, a prominent agri-cooperative, is projecting a substantial rise in its turnover, aiming for around Rs 40,000 crore during the current fiscal year. This marks a considerable increase from its FY26 turnover. The cooperative's strategy involves expanding its retail footprint and enhancing the procurement of pulses, oilseeds, and onions to bolster government buffer stocks.
In the 2024-25 fiscal year, Nafed achieved a net profit of Rs 565 crore on a turnover of Rs 26,946 crore. The organization annually procures significant quantities of pulses, oilseeds, and onions for buffer creation, a process that constitutes over 80% of its sales turnover.
Furthering its retail expansion, Nafed is forging partnerships with entities like the Canteen Stores Department and Gujarat Cooperative Milk Marketing Federation. It also exports products through global retailers and supplies pulses for state governments' public distribution systems.
To streamline operations, Nafed has launched digital platforms including an e-auction portal (NAFEX.in) and an ERP system (Saksham). A portal, E-Samriddhi, has registered over 4.3 million farmers for procurement programs.
