Indomint Agriproducts, a leading multinational corporation in the area of contract farming, would double the mint acreage in the state of Punjab from the present level of 10,000 acres to 20,000 acres, managing director Ashok Ghogale said in Chandigarh today.
He said Punjab had an edge over Uttar Pradesh with regard to mint cultivation. The company experimented in both the states and found that the farmers of Punjab were more enterprising and technology savvy. The relatively large holdings in the state also help the cultivators.
Ghogale pointed out that under the contract farming programme, the farmers were paid a pre-determined price that helped in bringing down the cost of production for the farmer.
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The company provides assistance for disease-free planting material, along with guidance for the best agricultural practices and crop monitoring. The 100 per cent buyback of the produce by the company ensures farmers under the contract programme.
A farmer can earn up to Rs 600 per kg from peppermint and Rs 500 per kg from scotchmint. An investment of Rs 4,000 per acre can result in a harvest of 30-35 kg, that can fetch about Rs 20,000, Ghogale said.
A farmer in this region cultivates paddy in the first phase, potato in the second and mint in the third phase of the crop year.
The company has a collaboration with the Punjab Agriculture University, Ludhiana, for the facility of tissue culture.
The company's infrastructure in the state includes four distillation units, one each in Jagraon, Badali, Nakodar and Chamkorsaab.
A processing unit has also been set up in Zirakpur near Chandigarh. A menthol plant is also on the cards, and is likely to benefit about 2,000 farmers.
Indomint's projects can help the farmers cash in on the growing demand for mint in the international market.