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NAFED's 66th Annual General Meeting Dignified the Profits Earned During FY22-23

At the 66th AGM of the National Agricultural Cooperative Marketing Federation of India Ltd. in New Delhi, Dr Bijender Singh, Chairman, NAFED, highlighted the net profit of Rs 264.51 crore earned during the FY 2022-2023.

Parvathy Pillai
NAFED's 66th AGM highlighted the profits earned for the FY22-23 (Photo Courtesy: Krishi Jagran)
NAFED's 66th AGM highlighted the profits earned for the FY22-23 (Photo Courtesy: Krishi Jagran)

The National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) organized its 66th Annual General Meeting on September 22, 2023, at NCUI Auditorium, New Delhi. During the meeting, Dr Bijender Singh, Chairman, NAFED, highlighted the net profit of Rs 264.51 crore earned during the FY 2022-2023.

Ritesh Chauhan, IAS, MD NAFED

During his keynote address, Ritesh Chauhan, IAS, MD NAFED, shared his contentment of how Amit Shah, Union Home Minister and Minister of Cooperation’s visit to NAFED inspired the Federation & encouraged NAFED to expand its agricultural marketing activities to achieve a turnover of Rs 1 lakh crore in the next 7 years while reducing imports of Pulses.

Approximately 558 delegates representing various member societies and state federations, such as RAJFED, MARKFED-Punjab, BISCOMAUN-Bihar, BUNKUS, Delhi State Co-op Federation, and Ahilya Co-operative Society Federation, graced the event with their presence.

NAFED’s Profits During FY 2022-2023

  • NAFED achieved a turnover of Rs 21,404.58 crore with an operational profit of Rs 64 crore and a net profit of Rs 264.51 crore

  • The federation procured 30.44 LMTs of Oilseeds and Pulses worth Rs 17,120.49 crore under the Product Support Services (PSS)

  • NAFED procured 0.15 lakh metric tons (MTs) of Pulses valued at ₹91.23 crore under PSF on behalf Department of Consumer Affairs, Government of India

  • NAFED also purchased a total quantity of 40,383.490 MTs of imported stocks of Toor, Masoor, and Urad valuing Rs 01 crore

  • The organization's membership also grew from 974 to 994, resulting in an increased shared capital of Rs 07 Crore from Rs 41.02 Crore.

Notable Dignitaries at NAFED’s 66TH Annual General Meeting

  • Dr Chandrapal Singh Yadav, Chairman, Krishak Bharati Cooperative Limited (KRIBHCO) and International Cooperative Alliance - Asia Pacific (ICA-AP) along with Dileep Sanghani, Chairman, Indian Farmers Fertilizer Cooperative Limited (IFFCO) and National Cooperative Union of India (NCUI) shared their valuable insights and appreciated senior management for their dedicated efforts in the continued and steady growth of the federation

  • Dr Bijender Singh expressed his appreciation to NAFED’s member societies who came from across India to participate in the AGM

  • Sunil Kumar Singh, Vice Chairman, NAFED, extended heartfelt gratitude to the momentous gathering present during the AGM and delivered a resounding vote of thanks while recognizing the unwavering commitment and collective efforts of the NAFED team.

NAFED continues to strive to work for the betterment of farmers across the nation by providing them with remunerative prices and a ready market for their produce and other services.

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