Nuziveedu sees opportunity in paddy seed business
Jul. 6, 2010
Nuziveedu Seeds, which has a market share of 41 per cent in the cottonseed business in the country, has set a sales target of 1.06 crore packets (a packet consists of 450 g) of cottonseed this year against 76 lakh packets in 2009-10.
This includes 88 lakh packets of Bt-II seed for 2010-11 against 35 lakh packets last year as it forecasts a 50 per cent reduction in the Bt-I seeds to 18 lakh packets this year from 40.54 lakh packets last year.
"We have increased the sales targets following the exclusive marketing tie-up with Kribhco and National Seeds Corporation,” Mr S.V.R. Rao, Senior Vice-President (Coordination and Strategic Planning), told Business Line.
The GEAC (the Genetic-Engineering Approval Committee) has approved 26 varieties of the companys cottonseed for the season.
The company, which registered a turnover of Rs 575 crore in 2009-10, hopes to achieve Rs 885 crore in 2010-11. “Our tie-ups with national level marketing companies would help us reach the target,” he said.
The company had doubled the sales target for maize seeds to 11,218 tonnes in 2010-11 against 5,443 tonnes last year.
The targets for other crops (with last year figures in brackets) are: jowar –1,307 t (815 t); bajra – 1,006 t (342 t); sunflower – 1,108 t (297 t); wheat – 5,453 t (3,510) and soyabean – 4,243t (1,125 t).
Realising huge potential in the paddy seed business, the company has more than doubled the sales target to 20,718 tonnes against 8,810 tonnes last year. “Considering that our country is predominantly a paddy growing area, we see a huge potential there. We grew paddy in 100 million hectares, with hybrid seeds comprising just a fraction of 1.5 per cent,” he said.
Of the target for paddy seeds, the company hopes to sell 1,421 tonnes of paddy this year (577 tonnes). The company announced its first hybrid in paddy with sona masoori grain quality.
"We will further increase focus in paddy as it is a largely untapped area. The Andhra Pradesh Government officially released our two research varieties – Sonal and Moti Gold – in rice,” Mr Rao said.
The vegetable segment is expected to contribute Rs 33 crore in 2010-11 against Rs 17 crore last year and Rs 4 crore in 2008-09.
Meanwhile, the company has proposed to set up a fertiliser plant in Andhra Pradesh. It approached the Andhra Pradesh Industrial Infrastructure Corporation (APIIC), the State Government agency that acquires land and develops it, seeking an allotment of 1,200 acres for the project. The company planned to manufacture urea with an estimated investment of Rs 5,000 crore.
More from AgroNews
Subscribe to daily email alerts of AgroNews.