Producer’s Cooperative Society
A few of small industrialist, labor, or producers establish a cooperative society to gather their limited capability in order to get huge production facilities and this kind of organization is called producers’ cooperative society. As they can’t produce huge products as well as they can’t exist in the competition of selling, so they accumulate their limited ability to establish such kind of organization. To minimize negative competition, increase more production facilities, as well as increase the ability is the most targets to build this type of cooperative society. It is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise.
Dr. Durgadas Vattacharjeet, “The cooperative society which is established by all kinds of producers with a limited ability is called producers’ cooperative society.”
It means producer-owned and democratically-controlled organizations that serve their members (who may or may not be themselves cooperatives) through cooperative marketing, support and/or purchasing. The members of this organization collect capital, render great attempt to operate the organization with a view to earning a profit and distributing as well as.