Mysore-Kodagu MP Yaduveer submits a request to Union Commerce Minister Piyush Goyal
Yaduveer Krishnadatta Chamaraja Wodeyar, Mysore-Kodagu Lok Sabha constituency MP, has assured support to resolve the financial problems of the Kodagu Coffee Growers Cooperative Society Limited, which has been operating for decades. The Kodagu Coffee Cooperative Society is currently facing severe financial difficulties. Yaduveer Wodeyar has requested that the Union Commerce Ministry and the Finance Ministry intervene and provide relief. In this regard, MP Yaduveer, who met Union Commerce Minister Piyush Goyal in New Delhi, submitted a formal request for assistance.
The MP explained that the Coffee Cooperative Society, established in 1956, has provided vital support to over 10,000-12,000 small and medium coffee growers in Kodagu, Mysore, and surrounding areas. The society is the backbone of nearly 40,000 families and has provided employment to thousands of estate workers. He highlighted that the society had reported a loss of Rs. 6.85 crore in 1995-96 due to market fluctuations and lack of capital. According to a judgment delivered by the Coffee Board on 12-09-2011, the society was directed to pay interest of Rs. 1,55,28,034. Later, on 20-09-2015, the Coffee Board issued a letter offering waiver of interest if the principal was paid. Accordingly, the society paid Rs. 1,55,28,090 on 22-12-2015. However, in 2017, the Coffee Board charged Rs. 5,83,85,155 as interest and demanded payment of this higher amount, the MP clarified, adding that this matter was brought to the Union Minister’s attention. The society has now incurred a total loss of Rs. 13.13 crore and is in severe financial crisis. Payment of the interest amount is impossible, and if forced, the society would become bankrupt. Nearly one lakh people would be severely affected, Yaduveer said.
The MP appealed to the Ministry of Commerce and Finance to intervene immediately and save the society from financial collapse. He also requested coordination with the Ministry of Finance to provide appropriate compensation and assistance. The Union Minister, who received the request, assured immediate action, MP Yaduveer Wodeyar informed. Yaduveer Krishnadatta Chamaraja Wodeyar, Mysore-Kodagu Lok Sabha constituency MP, has assured support to resolve the financial problems of the Kodagu Coffee Growers Cooperative Society Limited, which has been operating for decades. The Kodagu Coffee Cooperative Society is currently facing severe financial difficulties. Yaduveer Wodeyar has requested that the Union Commerce Ministry and the Finance Ministry intervene and provide relief.    In this regard, MP Yaduveer, who met Union Commerce Minister Piyush Goyal in New Delhi, submitted a formal request for assistance.
The MP explained that the Coffee Cooperative Society, established in 1956, has provided vital support to over 10,000-12,000 small and medium coffee growers in Kodagu, Mysore, and surrounding areas. The society is the backbone of nearly 40,000 families and has provided employment to thousands of estate workers. He highlighted that the society had reported a loss of Rs. 6.85 crore in 1995-96 due to market fluctuations and lack of capital.
According to a judgment delivered by the Coffee Board on 12-09-2011, the society was directed to pay interest of Rs. 1,55,28,034. Later, on 20-09-2015, the Coffee Board issued a letter offering waiver of interest if the principal was paid. Accordingly, the society paid Rs. 1,55,28,090 on 22-12-2015. However, in 2017, the Coffee Board charged Rs. 5,83,85,155 as interest and demanded payment of this higher amount, the MP clarified, adding that this matter was brought to the Union Minister’s attention. The society has now incurred a total loss of Rs. 13.13 crore and is in severe financial crisis. Payment of the interest amount is impossible, and if forced, the society would become bankrupt. Nearly one lakh people would be severely affected, Yaduveer said.
The MP appealed to the Ministry of Commerce and Finance to intervene immediately and save the society from financial collapse. He also requested coordination with the Ministry of Finance to provide appropriate compensation and assistance. The Union Minister, who received the request, assured immediate action, MP Yaduveer Wodeyar informed.
