IFFCO Kisan Sanchar Q1 cattle feed sales up 30 pc to Rs 49 cr


PTI | New Delhi | Updated: 27-07-2021 15:39 IST | Created: 27-07-2021 15:21 IST
IFFCO Kisan Sanchar Q1 cattle feed sales up 30 pc to Rs 49 cr
Representative Image Image Credit: ANI
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IFFCO Kisan Sanchar on Tuesday said its cattle feed sales rose by 29.73 percent to Rs 49.13 crore in the first quarter of the current fiscal amid strong demand notwithstanding the COVID-19 pandemic.

Cattle feed sales stood at Rs 37.87 crore during the April-June quarter of 2020-21 fiscal, the company said in a statement.

In terms of volume, cattle feed sales grew 28.24 percent to 24,756 tonnes from 19,303 tonnes in the said period, it added.

“We are glad to announce that we could mark a commendable growth number with our cattle feed business in Q1 even though we witnessed a hard time in the market, hit by the second wave of COVID-19 during April-June 2021,'' IFFCO Kisan Sanchar National Sales Head Ganesh Dash, said.

The business started picking up in June as coronavirus cases were declining and the company sold 10,000 tonnes of cattle feed in the said month alone, he said.

Dash said the rise in sales was due to an increase in awareness among farmers about the use of quality cattle feed.

He also said IFFCO Kisan cattle feed is manufactured with high-quality standards and as a result, the company is receiving good responses across the country.

In its first full year of operation in 2020-21 fiscal, the company had sold 1 lakh tonne of cattle feed valuing Rs 160 crore.

The Delhi-based company entered into the compound cattle feed business on a pilot basis in 2019-20 fiscal. It contributes about 30 percent of the total business of IFFCO Kisan and is a major focus of growth for the company.

IFFCO Kisan, which currently sources cattle feed from several third-party manufacturers, is looking to further widen its tie-up and also consider setting up its own feed manufacturing facilities.

Dash said the company works closely with farmers and sources raw material directly from the farms which makes it easier to keep a check on the quality.

He also said that all manufacturing units are accomplished with in-house laboratories to check the quality.

Besides quality assurance, the farmer gets a fair price for the product since intermediary bodies aren't involved.

IFFCO Kisan operates in four major verticals: value-added service provider to farmers, cattle feed business, agri-tech, telecom, and call center services.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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