Online edition of India's National Newspaper
Sunday, Dec 23, 2007
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Online edition of India's National Newspaper Sunday, Dec 23, 2007 ePaper |
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Andhra Pradesh
Welcome gesture:Farmers of Medak presenting a cauliflower to K.Jayanth, Director of Forward markets commission, at a meeting on futures market at Sangareddy on Saturday. SANGAREDDY: Director of Forward Markets Commission, K. Jayanth said that the Government was contemplating to set up aggregators to pool up agricultural produce from small and marginalised farmers so that they could benefit from the forward market. However the farmers have to form into societies to benefit from the futures market. Awareness meetSpeaking to reporters on the sidelines of the district-level farmers awareness programme held in collaboration with the National Commodity and Derivatives Exchange limited (NCDEX) and Federation of Farmers Associations of AP at the Zilla Parishad conference hall here on Saturday, he said that till the formation of aggregators the benefits of futures market to small farmers would be indirect. ExchangesHe said that information about the present and future prices commodities were made available through 24 commodity exchanges throughout the country and three of national-level exchanges have been providing online facility. He pointed out that the small farmers could benefit largely from the knowledge of nation-wide spot price and future (three month) prices of agricultural commodities. The Futures market would allow the farmer to sell his produce even before it is harvested. Jayanth said that the buyer would be bound by law to honour the agreement with the farmer or the aggregator even if the commodity prices fall. He assured the farmers that the commission would play the role of a watchdog to protect the interests of the farmers.Mr. Jayanth told that the facility of market would be limited to the member farmers enrolled through the NCDEX. He said that market prices of commodities could be gathered from the national television channels and through the local agricultural market societies and yards. Price factsKnowledge of prices would help the farmer to form his own integrated price and sell the produce in the futures market. Earlier, president of Federation of Farmers Association M. Balarama Reddy who welcomed the initiative by the Union Government demanded the implementation of new price regime of agricultural prices as recommended by the Dr. Swaminathan’s commission. Scientific advisor of FFA O.S.Reddy, D.Sridhar Reddy president of FFA’s Medak unit and a large number of progressive farmers attended the meeting.
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