KOCHI: For the approximately 350 farmers in Kunnukara panchayat, the new factory symbolises hope for enhanced remuneration and brighter prospects. Faced with volatile market conditions and fluctuating returns for their plantain and tapioca crops, they sought assistance from the service cooperative bank nearby.
Witnessing the challenges faced by the shareholder-farmers, the 100-year-old Kunnukara Service Cooperative Bank took action, setting up a state-of-the-art factory capable of manufacturing value-added products from locally farmed agricultural produce.
The factory, constructed at a cost of Rs 2.85 crore with the support of the agricultural infrastructure fund of Nabard, is capable of processing 2,400 kilograms of tapioca or plantain in 24 hours, the cooperative bank president V S Venu told TNIE. The factory will provide direct employment to five people in the initial phase.
“There are 10 groups of farmers under the bank in the Kunnukara panchayat. Tapioca and plantain are the main sources of income for the farmers in the area. As their bank and as neighbours, we understand their plight when prices drop in the market. It was under the ‘Krishikoppam Kalamassery’ programme of Industries Minister P Rajeeve, the MLA of the constituency, that we decided to do something for the farmers,” Venu, who is an autorickshaw driver by profession, said.
He explained that, in the initial phase, chips with an oil content of less than 8% are being produced using fully automated machinery. Various flavours, such as Banana Salty, Banana Peri Peri, Tapioca Peri Peri, Tapioca Chili, and Tapioca Cheese, are now available in the market under the brand name Chip-Coop. The Kunnukara Agri Product and Marketing Unit aims to explore foreign markets for cooperative products by introducing vacuum-fried chips.
“Alongside the sourcing of banana and tapioca, the project can facilitate the use of high-quality oils, spices, and other locally produced food products that can enrich and support the SHG units, Kudumbashree units, etc. in the region,” Venu pointed out.
Established in 1924, the cooperative bank has more than 11,728 members and a total business of around Rs 200 crore.
It boasts deposits of Rs 101 crore and advances of Rs 92 crore, in addition to owning two supermarkets and a medical shop. The bank had an operating profit of Rs 1.85 crore for FY23 but reported a net loss of Rs 0.85 crore because of unrealised loans.