Kerala-based ESAF Swasraya Multi-State Agro Cooperative Society (ESAF Cooperative) is preparing to launch commercial production at its advanced pulses processing facility in Palakkad. Developed at a cost of Rs 26 crore, the state-of-the-art facility is equipped to deliver high-quality pulses and is expected to become operational soon.
Serving as a business correspondent for ESAF Small Finance Bank, ESAF Cooperative is scaling its operations into agri-allied businesses. It has initiated plans to establish a meat and vegetable processing plant in Kerala, with the initial formalities completed, marking a significant step in its expansion into agro-business ventures.
During the ICA Global Conference in New Delhi, ESAF Cooperative CEO Christudas Victor emphasized the society’s commitment to farmers. He noted that their integrated pulses processing plant, currently in trial, is designed to strengthen the value chain for farmers.
Collaborating with 2,000 farmers from Kerala and parts of Tamil Nadu, the plant, with a 40-ton per day capacity, has already procured 100 tons of urad dal from 250 farmers during its trials. Victor added, “There is tremendous potential, as the demand for pulses is widespread, but production remains limited. We plan to set up similar units in other states based on crop availability.”
He also detailed the upcoming Rs 70 crore meat and vegetable processing plant, saying, “This facility will add significant value to agricultural products. We aim to procure vegetables, process them through cutting and freezing, and export them to meet the growing demand for pre-cut vegetables. Operations are expected to stabilize within two to three years.”
“ESAF Foundation has established 129 FPOs across 9 states, connecting with 75,000 farmers. ESAF Cooperative sees great potential in partnering with these FPOs,” Victor said.
Under the guidance of ESAF Foundation, ESAF Cooperative has made strides in agro-cooperative initiatives, aligning with its vision of empowering marginalized communities through financial inclusion and agro-allied ventures. At its recent annual general meeting, the cooperative resolved to expand its operations beyond its current eight states. It is also a proud member of the International Cooperative Alliance (ICA).
For FY 2023-24, ESAF Cooperative reported gross revenue of Rs 521 crore and a net profit of Rs 63.65 crore. Its workforce has grown from 4,155 employees in FY 2021-22 to 9,845 in FY 2023-24, comprising 7,262 male and 2,583 female employees. As of March 31, 2024, its net worth stood at Rs 611 crore, supported by a membership base of 10.50 lakh.
