MARKFED is an acronym for 'The Punjab State Cooperative Supply and Marketing Federation Limited.' It is a cooperative organization that operates in the Indian state of Punjab. Founded in 1954, MARKFED plays a crucial role in the procurement, production, and marketing of various agricultural and allied products in the state.
MARKFED functions as a federation of primary cooperative societies involved in farming, production, and distribution of essential agricultural commodities. It aims to promote the well-being of farmers and rural communities by ensuring fair prices for their produce, providing quality inputs like seeds and fertilizers, and facilitating the marketing and sale of agricultural products.
The core objectives of MARKFED include enhancing agricultural productivity, reducing market risks for farmers, supporting rural development, and ensuring food security. The organization engages in activities such as procurement, processing, storage, and distribution of crops such as wheat, paddy, pulses, oilseeds, and vegetables. MARKFED also manufactures and markets a wide range of branded food and non-food products under its own brand name.
Additionally, MARKFED provides financial assistance and technical support to farmers, cooperative societies, and other stakeholders. It actively participates in various government schemes and initiatives to empower farmers and strengthen the agricultural sector.
Overall, MARKFED plays a significant role in the cooperative movement in Punjab, functioning as a vital link between farmers and consumers by focusing on the efficient procurement, production, and marketing of agricultural products, ultimately contributing to the socio-economic development of rural communities in the state.
