ACIL Cotton Industries said it has entered a contract with farmers to cultivate various organic crops in 45 acres of agriculture land at Surendranagar, in Gujarat.
According to the organic contract farming, the company will provide all facilities like irrigation system, technical assistance, quality seeds, organic fertilizers and labours to the farmers for better yields.
Further, the company has decided to set up some unique business model in corporate organic farming business. It is going to establish complete chain from farming to retailing the product for that the company is tying up with farmers for land to corporate organic farming.
On Thursday, ACIL Cotton Industries shares ended 1.2% up at Rs37 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.1% up to 18,454 points.
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