Niranjan Reddy pats TS Oilfed for generating Rs.57 crore proft

Hyderabad: Agriculture Minister S. Niranjan Reddy said Telangana State Cooperative Oil Seeds Growers Federation Limited (TS Oilfed) generated a net profit of Rs.57 crore last financial year after the annual turnover increased to over Rs.700 crore. Launching the TS Oilfed’s Vijaya groceries here on Monday, the Minister said in the united AP, the Oilfed’s turnover […]

Hyderabad: Agriculture Minister S. Niranjan Reddy said Telangana State Cooperative Oil Seeds Growers Federation Limited (TS Oilfed) generated a net profit of Rs.57 crore last financial year after the annual turnover increased to over Rs.700 crore.

Launching the TS Oilfed’s Vijaya groceries here on Monday, the Minister said in the united AP, the Oilfed’s turnover used to be around Rs.200 crore without generating any profit.

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Despite increasing imports and demand, Central and State Governments in the past had neglected oil seeds production. Annually, nearly Rs.80,000 crore was being spent by Central Government for importing edible oil, he explained.

After Telangana formation, the State government focused on increasing oil seeds production and the yield is increasing accordingly, the Minister said.

“Taking a cue from Telangana Government, Central Government has now taken a decision to promote oil seeds production extensively,” S Niranjan Reddy said.

Complimenting TS Oilfed for introducing 23 Vijaya groceries, the Agriculture Minister said the idea behind launching these products comes from Chief Minister K Chandrashekhar Rao as he wanted to offer quality products at affordable prices.

“The Chief Minister extended all support to TS Oilfed, citing when few businessmen were launching different products and reaping good profits, why cannot government organisations be successful,” said Niranjan Reddy.

TS Oilfed Chairman K Ramakrishna Reddy said currently 23 groceries were being launched and plans were being made to introduce a total of 100 products, including pickles, namkeens, sweets and others in one year.

“Vijaya is a popular brand among consumers. The idea is to offer quality products under the brand at affordable prices,” he said. An appeal would be made to all government departments to use Vijaya products as it would improve sales and facilitate the departments in saving some revenue, he added.

In tune with the plans to launch more products, efforts were also being made to set up exclusive Vijaya retail outlets across the State and in the neighbouring Karnataka and Maharashtra States as well, said TS Oilfed Managing Director M Surender Reddy.

Also read:

‘Vijaya’ groceries to hit Telangana market

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