Linking farmers with markets: International Convention on Changing Dynamics of Commodities Market
Q. Agricultural growth has risen to what value in 2017?- Published on 20 Mar 17
Union Minister for Agriculture and Farmers Welfare, Shri R. M Singh has indicated the government is working on a concrete plan to link farmers with the markets.
Addressing the 5th International Convention on Changing Dynamics of Commodities Market, this will help farmers participation in trading food grains.
Forward trading is an index of predictive pricing and a result of both buyer and seller, can plan their futures trading.
This will assist farmers to plan crop planting and eliminate the role of the middlemen.
Marketing in farm produce is carried out through state government designated 6746 mandis across the nation.
Government is leveraging the APMC mandis and amending marketing laws to facilitate setting up of mandis by the private sector.
e-NAM offers online commodities trading platform to fetch a farmer optimal price for farm produce. Money is also directly credited to his account.
A total of 277 mandis have spread across 12 states and linked on the e-NAM portal. 585 mandis will join the platform by the next year.
India is not only self sufficient in agricultural production but also exports food grains.
Agricultural growth has more than doubled from 2 to 4.4 percent. In the 2017-2018 budget, funding provision for rural, agricultural and allied sectors has risen to 24% or INR 187,223.