Econut Coconut Producer company is a farmer producer Organization formed with the sole intention of rural empowerment at the grass root level. It is a farmer owned company with every farmer associated with it, a proud shareholder of the company.
Econut is currently incubating in NSRCEL IIM Bangalore and it is the first Farmer Producer Organization to be incubated in a prestigious institution such as this. Econut was selected as top five from over 650 applications across the country. NSRCEL IIM Bangalore has helped scale up the operations of Econut and with its mentors have been able to guide Econut in a more efficient way of operations which proportionally increases the social impact.
With ensured high price to the farmers and providing green collar jobs to their next of kin, Econut has been able to grab the attention of 1047 farmers in its span of operations in just two years. Econut currently employs 35 rural youth and 2 MSc Agri grads who constantly support the farmer in all the technology related aspects. Econut has been able to increase per farmer income by 20 percent annually.
Econut has been in the top 10 list of farmer producer organizations in the A Grade range as per NABARD valuations. Econut has been recommended by Small Farmer Agri Consortium (SFAC-New Delhi) as one of the few Farmer Producer Organizations which can be funded by any banks and the collateral would be covered by SFAC.
With the support of NSRCEL IIM Bangalore and its mentors, Econut plans to expand its operations in Bangalore with a total of 100 Kiosks set up in Bangalore and slowly move to other cities and ultimately achieve pan India presence.