Latest News | Sagam Mushkbudji Becomes J&K's First Farmer Producer Company to Get EXIM Licence

Srinagar, Jul 10 (PTI) Sagam Mushkbudji Farmers' Producers Company Limited has become the first farmer producer organisation (FPO) to get Import-Export licence in Jammu and Kashmir, a NABARD official said on Monday.

The FPO was incorporated as a farmer producer company in July 2019 to promote the scented variety of rice and help its marketing and sale across the country.

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"Sagam Mushkbudji Farmers' Producers Company Limited, a farmer producer organisation (FPO) promoted in Sagam area of Anantnag district by NABARD, has achieved the milestone of becoming the first FPO in the Union Territory to get the import-export licence," Rouf Zargar, District Development Manager at NABARD, said.

"With the import-export licence, the Mushkbudji farmers will now have access to global markets and this will fetch them very good price," Zargar said.

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Corporate and bulk buyers are now looking to do business with FPOs, instead of individual farmers, he said.

"Only FPOs can trade commodities in bulk as there are hundreds of farmers linked to them. Besides, there is minimum interference from middlemen. The Mushkbudji rice has also been listed among nine products of Jammu and Kashmir, and Leh to get GI tagging," Zargar added.

The district administration is in the process of allotting land to the FPO for the establishment of a rice mill in Sagam area.

More than 200 farmers are members of Mushkbudji, who sell a major part of their produce directly through the FPO. The company recently participated in the Gulf Investment summit in Srinagar and evinced interest of various investors from the UAE among other countries.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)