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Tuesday, April 11, 2017

Farmers Reap Richer Harvest with Futures.

: Thousands of farmers have started using commodities futures to get better prices for their produce, in line with PrimeMinister Narendra Modi’s recent call that such bourses should help cultivators, not speculators. India’s largest farm futures bourse said, 30,500 small farmers had for the first time used the futures market through farmer producer organisations (FPOs) to sell their produce at much higher rates than what agents at mandis used to offer them. NCDEX has, for the first time, managed to get 30,500 small and marginal farmers out of 1.62 lakh registered last year to deliver around 12,000 tonnes of produce on the exchange platform through FPOs. FPOs from Maharashtra, Rajasthan, MP, Bihar and Gujarat have tendered crops such as maize continue