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news details
JK’s Horticulture Deptt intended to produce apple juice, incurred loss of Rs 98 lakhs
1/14/2021 11:52:17 PM
Early Times Report

Jammu, Jan 14: Failure of the past dispensation to streamline the horticulture produce in Kashmir has resulted in blocking Rs 2.03 crore and a loss of Rs 98 lakhs in one go.
According to the details available with Early Times, stock of apples worth Rs 2.03 crore was lying with Jammu and Kashmir Horticultural Produce Marketing and Processing Corporation (J&KHPMC) Limited for the past more than five years. The laidback approach of the JKHPMC officials led to blocking of the amount and after selling the stock at the reduced price of Rs 40 per kg, the Corporation incurred a loss of Rs 98 lakhs.
Documents in possession of this newspaper reveal that J&KHPMC Limited having its plant at Doabgah Sopore entered into an agreement in August 2013 with a buyer namely M/S Unique Foods for supply of apple juice concentrate of 450 MTs at the rate of Rs 86,000 per MT, for a period of one year, from 01 October 2013 to 30 September 2014.
The Corporation had an opening stock of 15 MTs of apple juice concentrate as on April 2012 and produced 429 MTs during 2012-13 to 2014-15. Two hundred MTs were produced during 21.07.2012 to 12.12.2012, 135 MTs during 06.10.2013 to 02.12.2013, 14 MTs during 27.10.2014 to 27.11.2014 and thereafter, no production was carried out for around three years. The operations of the plant resumed for a brief period of 41 days from 23 October 2017 to 3 December 2017. The plant was stopped after production of 73 MTs of juice concentrate due to non-availability of working capital.
Records of Corporation reveal that against the available stock of 517 MTs of apple juice concentrate, it could sell only 183 MTs during 2012-13 to 2017-18. Buyer, who had agreed to purchase 450 MTs, lifted only 114 MTs during November 2013 to May 2014 and refused to lift the balance quantity which was not of the desired quality.
Aware of its perishable nature, as it had already exceeded its shelf life of 18 months in June 2014, the Corporation sold 51 MTs which included sale of 45 MTs of stock at a reduced rate of Rs 60,000 per MTs to another buyer in May/ August 2016, resulting in a loss of Rs 7.93 lakh.
Further efforts of the Corporation to sell the balance stock of 334 MTs, which included stock of 261 MTs produced during 2012-15 did not materialise, resulting in blocking of capital of Rs 2.03 crore. In view of its perishable nature, the stock entailed a loss to the Corporation due to its expiry.
Till date no inquiry has been ordered into the matter, leading to the questionable functioning of the past administrative setups in Jammu and Kashmir wherein making the J&K self-reliant remained on the papers only.
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