The Krishna District Milk Producers’ Mutually Aided Co-op Union Limited, known to all as Vijayawada Milk Factory, will pay ₹20.74 crore as incentive bonus to milk producers at the rate of 10 paise per litre of milk for the last financial year (April 1, 2017 to March 31, 2018).
Managing Director of the union Tripuraneni Babu Rao in a press release said the Board of Directors under the leadership of chairman Mandava Janakiramaiah took the decision on Monday.
The Milk Factory has paid incentive bonus to milk producers to the tune or ₹3,321.51 crore since 2009. This was a national record, Mr. Babu Rao claimed.
The employees of the union and board members donated ₹6.75 lakh, that is, their one-day salary, to Kerala flood victims.