Markfed Sohna Vanaspati
The Punjab State Co-op Supply & Marketing Federation Ltd. known as “Markfed” was registered in 1954. At the time of registration, it began with one bicycle, three employees, thirteen members and a capital of Rs.54,000/-, it has now achieved meteoritic volumes and has grown to become the largest marketing co-operative in Asia with an annual turnover of over Rs.11600 Crores during 2013-2014 with 1932 employees. Markfed operates through 17 District offices over 100 Branch offices in Mandi Towns and 9 processing and trading units.
Markfed’s net worth as on 31.03.12 is Rs.70 Crore and the number of members has expanded to 3051 . Markfed has emerged as a very solid and stable organisation committed to the service of the farmer community of the State of Punjab.
Markfed has been awarded National Productivity Awards in various fields like co-operative marketing activities, food processing, cattlefeed production etc., to name a few.
Several innovative incentive schemes have been introduced for the benefit of the farmers and the member co-operative societies. Markfed has also introduced an insurance scheme which provides compensation in case of accidental death or permanent disablement of its farmer members.
Markfed contributes to research & development through the Punjab Agricultural University, Ludhiana (Punjab).
Markfed has been regularly distributing its profits as dividend to its members, contributing to co-operative development and the Common Good Fund. A fair amount is also re-invested in the setting up of new projects, modernisation and diversification of existing plants.