News Karnataka
Saturday, April 20 2024

South Canara Coconut Farmers’ Producer Company Limited Enters Share Market

Udupi: Arecanut, coconut trees dries due to heat
Photo Credit : File photo

The South Canara Coconut Farmers’ Producer Company Limited, an organization led by coconut farmers, has made its foray into the share market. With an initial fund of Rs 300 crore, the company aims to execute major projects worth Rs 50 crore in the first phase, according to Kusumadhara SK, Managing Director.

Highlighting the success of the Kalpa Samriddhi Yojana, Chethan A, CEO, revealed plans to consolidate all units under a single roof by acquiring 20 acres of land in Sullia or Puttur. The proposed facility will serve as a manufacturing hub for value-added products derived from various components of the coconut tree, introducing the nation’s first zero-waste plant for coconut farmers.

Upon completion, the project is expected to create 300 direct jobs and over 600 indirect jobs. The company has already conducted a trial run of its coconut sprout dessert, which has been met with success. The next venture in line is tender coconut ice cream under the brand name ‘Sriphala’.

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