December 19, 2006

Indian poultry integrator and bank tie-up to offer loans for poultry farmers

India's Suguna Poultry, a company with integrated broiler operations, is recommending its contract farmers to apply for financial assistance from the State Bank of India (SBI).

In its bid to assist contract farmers engaged in poultry-related activities to double production and income by 2010, it is offering loans without any need for security to farmers recommended by Suguna Poultry. Interest was set at 9.5 percent.

The agreement between the bank and Suguna would enable farmers to obtain easy loans for creation of assets, guaranteed supply of chickens and quality feed, veterinary guidance and marketing advice.

KJ Taori, General Manager (Agri-Business), said that encouraging contract farming would not only provide employment to youths but also help the uneducated and unemployed to start poultry businesses.