NEWS REPORT / BUSINESS STANDARD |
ACIL enters into contract farming for 173 acres in Gujarat
ACIL Cotton Industries said it has entered into contract farming with farmers of Sunderhagar, Gujarat, for cultivating organic crops over 173 acres of land, according to a report in Business Standard quoting newswire, PTI.
"As per the agreement, company will provide all facilities like irrigation system, technical assistance, quality seeds, organic fertiliser and labour (if required) to farmers for better yields," ACIL Cotton Industries (ACI) has said in a filing to the Bombay Stock Exchange.
The company has already started farming in 149 acres land in the same location and with the addition of 173 acres of land, the total area under the company for organic cultivation has now gone up to 322 acres.
"This is the first step by the company to cultivate organic harvests as a model called integrated organic cultivation, which would guarantee farmers a market-supportive mechanism for selling their produce," the filing said.
Besides, the company is in advanced stage of negotiation for bringing another 100 acres of land in Bhavnagar, Gujarat, under the contract farming, it added.
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