Wed, 29 January
-6.9 C
Yerevan
USD: 398.36 RUB: 4.11 EUR: 418.44 GEL: 138.80 GBP: 497.67
spot_img

ACBA-CREDIT AGRICOLE BANK tells about ‘olive’ farmer’ Karen Karapetyan

YEREVAN, November 22. /ARKA/. While writing the story about Karen Karapetyan, I remembered another story by late journalist Gogar Isakhahnyan, who worked for Armenpress, of 26th of June 2012:

“The only exemplary olive grove in the country on 7 hectares is located in Araksashen in Meghri yielding at least 10 tons per year. In lieu of dried vineyards the 50-year-old resident of the village of Leyvaz founded an olive garden with 3,400 trees of Seveliano and Askolana species, brought from Spain…. “.
Today, when asked how the idea of cultivating olive trees came to him, Karen Karapetyan says it was hinted by his brother, who read in an encyclopedia about the climatic conditions in which this delicious and nutritious fruit grows.

And the brothers decided to take the risk. In 2002, they planted a few dozen trees, just to try. The seedlings took root, blossomed stretching up to the height of a man. But … the frost had done its dirty deed … But that did not upset Karen, who admits that any other person in his place would have abandoned the endeavor. But not him. With the help from ACBA-CREDIT AGRICOLE BANK in a short time he brought another 7,500 seedlings, distributing some 300 seedlings to friends and just strangers at a village administration meeting. When asked why he did it, the farmer replied, “So that no tree in my grove is stolen.”

Today, there are about 4,000 trees growing in his grove. Last year, Karen Karapetyan gathered 5-6 metric tons of olives. And before that, in 2013, when there was no frost, the output exceeded 10 tons. This year, he hopes to get up to 30-40 tons of the crop. Trees are growing; some of them give up to 70 kilograms of olives.

Karen Karapetyan managed to save the crop from frost, but gathering olives is only part of the whole job. They must be processed and delivered to consumers. He took care of this too. In his native village he founded an olive processing shop. The entire process takes 15 days. Karen thoroughly described to me the entire process of olive processing.

Although the output is ecologically clean, Karapetyan encountered sale problems. Four years ago, the farmer would say, “For the time being I am forced to sell the crop to dealers at a low price – 1,200 drams per one kg. In Armenia it is difficult to sell olives at a normal price.’

Today, the farmer from Meghri has his own consumers. He says with some pride that among them there are Syrian Armenians who have a long tradition of using olives. Some even admit that the olives processed at a small shop in Leyvaz are tastier than factory processed ones. These words give a boost to his pride increasing his desire to advance his business.

… Karen Karapetyan turned to ACBA-CREDIT AGRICOLE BANK for a loan in 2002 to lay out his garden. The Bank took into account the uniqueness of the farmer’s investment and did everything possible to facilitate the repayment scheme. This fact was instrumental for farmer to concentrate on his business’ success. At the end we should say that the brothers are being helped by their sons aged 21 and 25.

We talked about the problems too. Karen Karapetyan and not only him is concerned about the irrigation. Firstly, the cost of irrigation water is relatively high – 1,300 drams per hour. And it is available to few. The Karapetyan brothers built about half a kilometer-long underground water pipeline through the mountains. Now they want to install the drip irrigation system. So far, as usual, the new technology is only being examined. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Armenia’s banking system reports a profit of 363 billion drams in 2024

The profit of Armenia's banking system for 2024 amounted to approximately 363 billion drams, according to the Union of Banks of Armenia (UBA).

US dollar exchange rate up by 0.14 points, while the euro falls by 1.37 points

The average market exchange rate of the U.S. dollar to the Armenian dram at the end of January 23, 2024, amounted to 398.88 drams, having risen by 0.14 points compared to 22 January.

Goldman Sachs considers opportunities for cooperation with Armenia

Armenian Prime Minister Nikol Pashinyan met with Jared Cohen, President of Global Affairs of Goldman Sachs, one of the world’s leading investment banks, within the framework of the World Economic Forum in Davos.

Armenia to receive 45.3 million euros from Asian Development Bank to improve healthcare quality

Armenia will receive a EUR 45.3 million loan from the Asian Development Bank for the implementation of the ‘Health Care Quality Improvement Programme’. The Armenian government made a corresponding decision on Thursday.

ПОПУЛЯРНЫЕ ТЕМЫ

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

20,000 dram banknote of 2024 issue put into circulation in Armenia

The Central Bank of Armenia reported about putting into circulation from January 27 this year a banknote with a nominal value of 20,000 drams of 2024 issue, which is a legal tender on the territory of the country and is subject to unconditional acceptance at its nominal value without time limitations.

Euro jumps by 3.25 drams to 418.48 drams

The average market exchange rate of the U.S. dollar to the Armenian dram on January 24, 2024, amounted to 398.97 drams, having risen by 0.09 points compared to January 23.

Goldman Sachs considers opportunities for cooperation with Armenia

Armenian Prime Minister Nikol Pashinyan met with Jared Cohen, President of Global Affairs of Goldman Sachs, one of the world’s leading investment banks, within the framework of the World Economic Forum in Davos.

US dollar exchange rate up by 0.14 points, while the euro falls by 1.37 points

The average market exchange rate of the U.S. dollar to the Armenian dram at the end of January 23, 2024, amounted to 398.88 drams, having risen by 0.14 points compared to 22 January.

Profit of Armenia’s banking system in 2024 increased by 60.9% to 363.1 bln. AMD

The net profit of 17 Armenia-based commercial banks in 2024 amounted to over 363.1 billion drams, growing by 60.9% compared to 2023, according to reports of the banks published in accordance with international financial reporting standards.

Armenia’s commercial banks paid 119.6 billion drams in taxes in 2024

All 18 Armenia-based commercial banks are in the list of 1000 largest corporate taxpayers in 2024, having paid 119.6 billion drams in various taxes, the State Revenue Committee said.

LATEST NEWS

Popular Categories

spot_imgspot_imgspot_img