On World Milk Day, Milk Mantra improves the dairy sector in Orissa

BHUBANESWAR, India - June 3, 2013 - PRLog -- Earlier this year Milk Mantra had made tie ups with financial institutions Basix, IDBI and Co-operative Banks to create a new lease of life for the farmers. The company which has been known for innovation in dairy and makes the ‘Truly Pure Milky Moo’ fresh milk, paneer and recently launched dahi, is improving the quality of life of rural farming households under its Ethical Milk Sourcing pogramme.

Mr Srikumar Misra, MD & CEO of Milk Mantra said, “. This is an expansion of our Ethical Milk Sourcing Programme that makes transparent and timely payment to farmers and extends several other extension services for developing the dairy sector which has created a strong network of more than 10,000 farmers. With the tripartite cattle loan initiative, we are going to create sustainable development amongst our network farmers.”.

On the new initiative, Lt. Col (Retd) Ashit Mahapatra, COO, Milk Mantra said, “This will be helpful in creating more and more employment to the rural youth and women and encourage them to become a Milk Mantra network farmer and look at dairying as a regular supplementary source of income. We believe that with this initiative of the company more rural youth of Odisha would like to take up dairying as their career. We have painstakingly set up our Ethical Milk Sourcing network over the last 2 years and each and every farmer has worked with us in pouring only the purest milk at our 17 BMC’s”

With this loan facility, which was not that easy for rural Odisha, loans will now be available at arm’s length. The banks will provide cattle loan to the network farmers at a nominal interest rate. While the banks usually charge 24 per cent interest rate for the normal cattle loan, IDBI Bank will charge an interest of 11 per cent. Mr. Labayendu Padhi, DGM Agri-business group IDBI said “For the first time in Odisha any private sector dairy company has done this kind of engagement for their network farmers. We are very happy to be one of the partners of Milk Mantra in achieving the company’s vision of nourishing a truly pure living of the consumer and the farmer.”