NEW DELHI (Commodity Online): India’s Agriculture Ministry signed two separate Memoranda of Understanding (MoUs) with National Seeds Corporation Limited (NSC) and State Farms Corporation of India Ltd. (SFCI) for the financial year 2010-11 to commit these companies to increase seed production.

According to an official statement, the thrust in the MoU with NSC is on key parameters of Quality Assurance, Customer Satisfaction, redressal of farmers' grievance/complaints, environmental up-gradation and collaborative R&D activities for developing new hybrids/varieties.

NSC will share the responsibility of sustainable development by financing creation of rain water harvesting structure in NSC's seed growers' areas, tree plantation and free distribution of solar lanterns, said the statement.

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The statement further said that the MoU with SFCI sets higher targets for the financial year 2010-11 including production of 6.00 lakh quintals of certified seeds, against 5.75 lakh quintals target of the previous year; turnover at Rs.285 crores with a jump of almost Rs.63.00 crores over the last financial year and profit after tax of Rs.19.54 crores compared to Rs.11.73 crores of the previous year.

Greatly benefited by the favorable location of its farm lands, SFCI produces various categories of seeds namely Test Stock, Breeder and Certified seeds, it added.

Another significance of this year's MoU is the emphasis on higher production of oil seeds, pulses and non-cereals pegged at 65% of the total seed productivity.

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