12 Jul, 2007, 0145 hrs IST,Tapash Talukdar, TNN
RAJKOT: Jatropha farming has now caught the attention of foreign companies for contract farming. Dwarka-based P Manek Biofarms, manufacturer of various essential oils, has been getting enquiries from a few UK-based companies for contract farming. The firm is engaged in developing nursery and irrigation development facility to help farmers. The crop requires less water, grows in arid region and can be used as an alternative to costlier fuels.
Nearly 5,000 farmers will join hands for the project which would enable the farmers to double their income. "We have been approached by a few UK-based companies to take up contract farming in jatropha cultivation. The future of jatropha seems to be bright and our focus is on increasing domestic as well as overseas marketing of the crop," says P Manek Biofarms CEO Manish Asawa. The firm has recently tied up with Tata Chemicals to grow jatropha in a total area of 2,000 acres. As per the agreement, Tata Chemicals will buy the whole production and use it for its own manufacturing purposes. The total investment for the project would be around Rs 400 crore over the next four to five years.
Bank of Baroda would finance a portion of the project, which is in the form of a joint agreement between Tata Chemicals and P Manek Biofarms. Gujarat government's "Green Revolution" scheme for jatropha plantation would grant a 50% subsidy to the project.
Initially, the project will be started on 500 acres where nearly 200 farmers would grow the crop. Next year, the production will rise to another 500 acres or as per the requirement of Tata Chemicals. The demand for jatropha has been growing in the domestic market and now overseas companies are also exploring options to make efficient use of the crop.
The firm will facilitate technical know-how and provide backlog systems to the farmers to grow good quality jatropha.
Interestingly, the firm has received inquiries for its lemongrass crop which is used in making herbal tea. "We have received first order of 20-25 metric tonnes of supplying lemongrass to a UK-based company," says Asawa.
Nearly 5,000 farmers will join hands for the project which would enable the farmers to double their income. "We have been approached by a few UK-based companies to take up contract farming in jatropha cultivation. The future of jatropha seems to be bright and our focus is on increasing domestic as well as overseas marketing of the crop," says P Manek Biofarms CEO Manish Asawa. The firm has recently tied up with Tata Chemicals to grow jatropha in a total area of 2,000 acres. As per the agreement, Tata Chemicals will buy the whole production and use it for its own manufacturing purposes. The total investment for the project would be around Rs 400 crore over the next four to five years.
Bank of Baroda would finance a portion of the project, which is in the form of a joint agreement between Tata Chemicals and P Manek Biofarms. Gujarat government's "Green Revolution" scheme for jatropha plantation would grant a 50% subsidy to the project.
Initially, the project will be started on 500 acres where nearly 200 farmers would grow the crop. Next year, the production will rise to another 500 acres or as per the requirement of Tata Chemicals. The demand for jatropha has been growing in the domestic market and now overseas companies are also exploring options to make efficient use of the crop.
The firm will facilitate technical know-how and provide backlog systems to the farmers to grow good quality jatropha.
Interestingly, the firm has received inquiries for its lemongrass crop which is used in making herbal tea. "We have received first order of 20-25 metric tonnes of supplying lemongrass to a UK-based company," says Asawa.
