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Awareness prog on future market for farmers

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MANGALDAI, Feb 22 � The market economy of our country in this age of globalisation has witnessed a massive change over the years and a lot of change is expected in the near future also. It is high time for the producers, especially, the farmers of the country to acquire knowledge of the future market to cope with this changing situation, which will have a major effect on the prices of products as well as on the production. Keeping this in mind, NABCONS, a wholly-owned subsidiary of the National Bank for Agriculture and Rural Development (NABARD) in association with the Forward Market Commission, Government of India, on Thursday, conducted a district-level awareness programme for trainers, stakeholders and beneficiaries of forward market trading here at the Press Club.

The day-long programme, which was held with the assistance of the local voluntary organisation NECARD was attended by 35 selected progressive farmers and agri-entrepreneurs across Darrang district. The focus of the programme was mainly on trading in the agricultural commodity markets.

Speaking on the occasion, B Deb, DDM, NABARD, Darrang district stressed that the objective of the programme is to sensitise the progressive farmers, agri-entrepreneurs, agri-professionals about the current challenges in agriculture and the challenges faced by the farmers and how their participation in future market can help them mitigate these challenges. He further elaborated that the traditional cropping pattern of the Indian farmer can be changed to a great extent if we can provide a platform that disseminates future prices of the crop, which may lead to a better cropping pattern.

The speaker added that this platform is the commodity exchange. The National Agricultural Policy, 2000 recognised the need for futures trading in agricultural commodities for price discovery and price risk management by farmers. In stark contrast to developed countries, the vast majority of Indian farmers are not involved with commodity exchanges due to lack of awareness or ignorance; lack of quantity produce and lack of infrastructure, etc., the DDM, NABARD stated and added that a number of studies have revealed that participation in commodity exchanges will benefit the farmers in both, pre-harvest as well as in the post harvest stage.

GK Sharma, farm manager, KVK, Darrang speaking on the occasion stated that it will be necessary to bring the farmers to the exchanges (as hedgers) by using aggregation model, with NGOs, cooperative societies, other institutional players acting as aggregators. He stated that it will be necessary to educate and develop the capacity of the farmers.

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Awareness prog on future market for farmers

MANGALDAI, Feb 22 � The market economy of our country in this age of globalisation has witnessed a massive change over the years and a lot of change is expected in the near future also. It is high time for the producers, especially, the farmers of the country to acquire knowledge of the future market to cope with this changing situation, which will have a major effect on the prices of products as well as on the production. Keeping this in mind, NABCONS, a wholly-owned subsidiary of the National Bank for Agriculture and Rural Development (NABARD) in association with the Forward Market Commission, Government of India, on Thursday, conducted a district-level awareness programme for trainers, stakeholders and beneficiaries of forward market trading here at the Press Club.

The day-long programme, which was held with the assistance of the local voluntary organisation NECARD was attended by 35 selected progressive farmers and agri-entrepreneurs across Darrang district. The focus of the programme was mainly on trading in the agricultural commodity markets.

Speaking on the occasion, B Deb, DDM, NABARD, Darrang district stressed that the objective of the programme is to sensitise the progressive farmers, agri-entrepreneurs, agri-professionals about the current challenges in agriculture and the challenges faced by the farmers and how their participation in future market can help them mitigate these challenges. He further elaborated that the traditional cropping pattern of the Indian farmer can be changed to a great extent if we can provide a platform that disseminates future prices of the crop, which may lead to a better cropping pattern.

The speaker added that this platform is the commodity exchange. The National Agricultural Policy, 2000 recognised the need for futures trading in agricultural commodities for price discovery and price risk management by farmers. In stark contrast to developed countries, the vast majority of Indian farmers are not involved with commodity exchanges due to lack of awareness or ignorance; lack of quantity produce and lack of infrastructure, etc., the DDM, NABARD stated and added that a number of studies have revealed that participation in commodity exchanges will benefit the farmers in both, pre-harvest as well as in the post harvest stage.

GK Sharma, farm manager, KVK, Darrang speaking on the occasion stated that it will be necessary to bring the farmers to the exchanges (as hedgers) by using aggregation model, with NGOs, cooperative societies, other institutional players acting as aggregators. He stated that it will be necessary to educate and develop the capacity of the farmers.

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