What is Agricultural Cooperative Society?

What is Agricultural Cooperative Society?

An agricultural Cooperative, also known as farmers‟ cooperative, is a form of cooperative formed by farmers or agriculturalists who have combined their resources together for the production and marketing of their produce.

What is the history of cooperative society?

World history of cooperative societies began in the 18th century. This movement was first began in Great Britain. So, it’s not a surprise that through time the theory of cooperative society found its second life on the territory of future Nigeria and West Africa in general.

What are the importance of agricultural cooperative society?

Agricultural cooperatives provide education and trading to its members in modern agricultural practices and techniques. Disseminating information to its members and general public. More so, Agricultural cooperative societies are suppose to be engaged in direct making of their agricultural produce.

How was the history of cooperatives started?

Most scholars recognize the business of the Rochdale pioneers of England as the first coop. In 1844, this group of 28 men (weavers and skilled workers in other trades) formed a cooperative society. They created business principles to guide their work and established a shop in which to sell their goods.

What was the first agricultural co-op in America?

Agricultural cooperatives played an important role in the development of cooperatives in the U.S. with the first ag co-ops beginning operations in 1810 in dairy and cheese making. From 1810 until 1887, cooperatives were founded in many sectors of agriculture, including hog marketing, irrigation, fruit marketing, and cotton ginning, among others.

How did the cooperative society come into existence?

The term cooperative Societies came into existence when the farmers of Poona and Ahmednagar spearheaded an agitation against the money lenders who were charging exorbitant rates of interest.

What makes an agricultural cooperative an agricultural co-op?

An agricultural cooperative, also known as a farmers’ co-op, is a cooperative where farmers pool their resources in certain areas of activity. A broad typology of agricultural cooperatives distinguishes between ‘agricultural service cooperatives’, which provide various services to their individually farming members,…

Where did the idea of co-op come from?

Today, the cooperative community recognizes seven core principles. While modern cooperative principles can be traced to Rochdale, England in the mid-19 th century, the cooperative business was not a new form of organization.