Co-operative society of Alphonso orchard house owners from Sindhudurg offering prized fruit as a substitute of cash as interest.
Here’s further proof thatDevgad alphonso mangoes are price every penny. An organisation representing alphonso mango orchard house owners from Sindhudurg district have introduced ‘mango bonds’ underneath which, as a substitute of having interest on deposit, mangoes are given out as a go back on investment.
For example, if any person invests Rs 50,000 with theDevgad Amba Utpadak Cooperative Society (DAUCS ), they will get mangoes price Rs 5,000 as interest, explained its director Omkar Sapre.
However, as a substitute of giving them interest in monetary terms, we give them interest in the type of mangoes,” said Sapre. The scheme was introduced with the aim of having cheaper credit to contributors and providing mangoes at discounted rates to investors, a majority of whom are from outside Maharashtra, particularly from Gujarat, Rajasthan and Delhi, consistent with Sapre. The society has up to now been able to boost around Rs 1.5 crore from 300 depositors. The Alphonso mango is categorized as Big, Small and Medium. The investors will likely be given the ‘Big’ category fruit at a 20 according to cent cut price of the marketplace charge, Sapre said.
Around three,000 farmers from Devgad taluka are engaged in Alphonso farming in orchards spread over 50,000 acres. The turnover of Devgad Alphonso is around Rs 550-600 crore according to annum.
Last yr, a major fight over the Alphonso mango was settled when farmers from Ratnagiri and Devgad agreed that the GI tag for Alphonso will have to be given to all Alphonsos grown in the Konkan belt - from Sindhudurg in the south to Palghar in the north.
In all the Konkan house, Alphonso is grown over an area measuring 2.72 lakh acres. The general turnover is around Rs three,000 crore and around three.5 lakh individuals are engaged in farming activities, together with around one lakh orchard house owners.
Here’s further proof that
For example, if any person invests Rs 50,000 with the
“Under the scheme we accept deposit of Rs 50,000 or more from depositors and be offering them 10 according to cent annual interest on their investment.
However, as a substitute of giving them interest in monetary terms, we give them interest in the type of mangoes,” said Sapre. The scheme was introduced with the aim of having cheaper credit to contributors and providing mangoes at discounted rates to investors, a majority of whom are from outside Maharashtra, particularly from Gujarat, Rajasthan and Delhi, consistent with Sapre. The society has up to now been able to boost around Rs 1.5 crore from 300 depositors. The Alphonso mango is categorized as Big, Small and Medium. The investors will likely be given the ‘Big’ category fruit at a 20 according to cent cut price of the marketplace charge, Sapre said.
Around three,000 farmers from Devgad taluka are engaged in Alphonso farming in orchards spread over 50,000 acres. The turnover of Devgad Alphonso is around Rs 550-600 crore according to annum.
Last yr, a major fight over the Alphonso mango was settled when farmers from Ratnagiri and Devgad agreed that the GI tag for Alphonso will have to be given to all Alphonsos grown in the Konkan belt - from Sindhudurg in the south to Palghar in the north.
In all the Konkan house, Alphonso is grown over an area measuring 2.72 lakh acres. The general turnover is around Rs three,000 crore and around three.5 lakh individuals are engaged in farming activities, together with around one lakh orchard house owners.
Mango bonds promise more juicy returns
![Mango bonds promise more juicy returns]()
Reviewed by Kailash
on
May 14, 2019
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