The National Cooperative Export Limited (NCEL) recorded a net profit of Rs 26.40 crore for the financial year 2023-24 and has declared a 20% dividend on its paid-up share capital for its member cooperative societies, Union Home and Cooperation Minister Amit Shah informed the Lok Sabha.
In FY 2024-25, NCEL successfully exported 10,42,297.81 metric tonnes (MT) of 36 agricultural commodities, generating revenue worth Rs 4,121 crore. This reinforces NCEL’s role in promoting the export of agricultural produce and cooperative sector goods.
NCEL has been established by key cooperative institutions, including Indian Farmers Fertilizer Cooperative Limited (IFFCO), Krishak Bharati Cooperative Limited (KRIBHCO), National Agricultural Cooperative Marketing Federation of India Limited (NAFED), Gujarat Cooperative Milk Marketing Federation Limited (GCMMF), and National Cooperative Development Corporation (NCDC).
The organization aims to export surplus goods and services from cooperatives while also engaging in promotional activities. So far, 8,863 cooperative societies have joined NCEL, strengthening India’s cooperative movement in global trade.
