Jain Irrigation Shares Jump On MoU With Indian Coffee Board
The MoU is for the commercial release of the advanced high quality, disease-resistant coffee plants to growers.
Shares of Jain Irrigation Systems Ltd. jumped after the company signed a memorandum of understand with the Coffee Board of India, for the commercial release of the advanced high quality, disease-resistant coffee plants to growers.
"For the first time in the world, we have standardised the tissue culture technology for coffee in India," the company said.
Coffee plants multiplied using the tissue culture protocols have been evaluated on the fields for the past few years, it said. "They are performing much better than the regular varieties. As part of the MoU, Jain Irrigation will multiply and sell the identified coffee plants to growers directly, while paying a royalty to the board.”
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