The Varappetty Service Cooperative Bank, which was recognised earlier this year by the National Cooperative Development Corporation (NCDC), has reinforced its position as one of the most enterprising cooperatives in the State, with an exponential rise in demand from foreign markets for its value-added food products.
Bank president M.G. Ramakrishnan said the bank had been exporting coconut oil, dried tapioca, and vacuum-fried ‘nendran’ banana chips to countries such as Australia, USA, and New Zealand. Now, there is demand for them and other products in the pipeline from importers in countries such as South Africa and the UK.
Mr. Ramakrishnan and bank secretary T.R. Sunil said the bank had initially ventured into processing tapioca and banana to help farmers. The only way to improve the lot of farmers and ensure that they get remunerative prices for products was to add value and possibly find export opportunities.
When the bank started procuring tapioca when the pandemic was at its peak, the market price for the tuber was ₹8 a kg. The bank began to procure it at ₹15 a kg. Similarly, the price of a kilogram of nendran banana in the market now is ₹15. The cost of production is ₹35 a kg, and the bank is procuring the fruit at ₹30 a kg, he added. Bank officials feel that with globalisation in place, it is time farmers were encouraged to add value to products with the help of agencies like cooperatives. In fact, farmers do not even realise the cost of production.
The bank has engaged 65 groups of farmers to cultivate banana and tapioca, which are procured by the bank. The farmers follow the crop cycle closely to ensure sufficient supplies throughout the year.
In a bid to boost coconut production, the bank has taken steps to plant 10,000 Kuttiyadi coconut saplings in Varappetty panchayat, Mr. Ramakrishnan added. The bank has a plant nursery from where coconut saplings and early fruiting jack saplings are available to the public.
