There is good news from Rajasthan that village cooperative societies will offer warehouse facility for a year to the farmers at a meagre rent of Rs 2 per sack per month, reports Times of India.
The Shriram Village Cooperative Society at Hingonia in Ajmer district has been pioneering the initiative. The society not only offers storage space but even provides 75% value of their produce at the existing market value on request. The society charges a 12% interest for it.
This facility has been launched from April this year and if the famer was able to pay up the advance amount availed on time they will also give a discount of 2% on interest.
The society has two godowns with a capacity of 100 and 250 metric tonne. The society issues policy at 75 market value of their produce. If the farmer is in need of money he could mortgage their policy to the society and avail the amount which is being transferred into the account of the farmer. The farmers need not go to anywhere to weigh their produce as the society offers weight and measures facility free of cost.
Rajasthan cooperative minister has said, this progressive experiment in the cooperative sector will prevent distress sale by farmers.