The National Federation of Farmers Procurement, Processing & Retailing Cooperatives of India (NACOF) held its 16th Annual General Meeting last week, where it announced that the society achieved a remarkable annual sales turnover of Rs 5,021.68 crore and a net profit of Rs 13.55 crore after tax.
The meeting was held on a positive note, with a pledge to work with full transparency, adopt a professional approach, embrace technology, and expand business outreach. The event was attended by NACOF Chairperson Malti Singh, Working Chairman Ramiqbal Singh, Vice-Chairman Ranjit Singh, Sunil Khatri, and several other dignitaries.
However, the Board expressed disappointment over the losses incurred in export business with Gulf countries through NACOF’s Kolkata branch, and assured that all possible measures are being taken to overcome the situation.
In her remarks, Chairperson Malti Singh said, “I am proud to share a significant milestone achieved by NACOF during the financial year 2024-25, a remarkable annual sales turnover of Rs 5,021.68 crores and a net profit of Rs 13.55 crores after tax”.
“This outstanding performance reflects the collective efforts, dedication, and resilience of our member cooperatives, along with the steadfast support of the Central and State Governments. I extend our heartfelt gratitude to all our stakeholders whose contributions have been instrumental in reaching this achievement. Together, we are building a stronger cooperative movement and a brighter future”, she added.
Highlighting new initiatives, she informed that NACOF has signed multiple MoUs with government departments and business partners for mutually beneficial ventures.
The society continues to support the implementation of Jan Aushadhi Stores in Delhi and Amrit Stores in Maharashtra. It is also actively involved in skill development programs under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), with projects underway in Andhra Pradesh, Chhattisgarh, Karnataka, Maharashtra, Madhya Pradesh, Telangana, and Uttarakhand.
Further, NACOF has successfully implemented Farmer Producer Organization (FPO) projects in Assam, Bihar, Jammu & Kashmir, Punjab, Uttar Pradesh, and Uttarakhand under the Government of India’s scheme for the formation of 10,000 FPOs, allotted through SFAC, NCDC, and NAFED. During the financial year, NCDC also allotted 10 FPOs to NACOF in Odisha.
Malti Singh acknowledged that towards the end of FY 2024-25, challenges arose due to export business undertaken by the Kolkata branch, but assured that efforts are underway to resolve the matter.
Currently, NACOF has a strong pan-India presence, with 30 branches including 4 sub-branches across various states, actively engaged in diverse business activities.
During the AGM, delegates suggested exploring the growing demand for copra in northern India, which NACOF may consider entering.
The meeting concluded with a vote of thanks proposed by Vice-Chairman Ranjit Singh.
