Origo Commodities to set up 100 FPOs in FY16

Origo Commodities today announced setting up of 100 Farmer Producers Organisations (FPOs) in five states including Telangana this fiscal year.
The government is promoting setting up of FPOs to help small and marginal farmers to get remunerative prices for their produce, provide inputs at competitive rates and other post harvest management services.
These FPOs are being set-up with financial assistance from rural lender National Bank for Agriculture and Rural Development (Nabard).
"We are working with farmers by setting up approximately 100 FPOs across Andhra Pradesh, Telangana, Maharashtra, Rajasthan and Karnataka in the current fiscal," Origo Commodities Director Sunoor Kaul said in a release.

He said the company has tied-up with Nabard, which would provide Rs 9-10 lakh funds for setting up of one FPO, while Origo would invest around Rs 2 lakh per FPO.
At least seven FPOs would be registered under the Companies Act this month in Andhra Pradesh, Telangana and Rajasthan, he added.
Origo Commodities, a collateral management company, currently operates over 350 warehouses servicing farming community in 14 states.