Agricultural Growth is also Necessary Along with Industrial Development-Radha Mohan Singh

Agricultural Growth is also Necessary Along with Industrial Development-Radha Mohan Singh 

Developed Future Markets Are Significant For Farmers And Agricultural Commodities

Single Window Service will be Provided for NAM Portal APMC Information and Services

Inauguration was Carried Out to 14th Commodity Future Summit Related to Assocham

Union Agriculture and Farmers Welfare Minister, Shri Radha Mohan today here said that “until the farmers of the country will be prosperous, the development of the country will not pave its way to the right direction. Therefore, agricultural growth is also necessary alongwith industrial development. A better developed future market meant for agricultural commodities will be significant for the farmers. It will facilitate them to obtain fair price of their products. With this system they will face lesser perils related to the ups and downs of prices. In this series such farmers as cannot participate directly in future markets they will also likely to be benefitted as the variation pertained to the timely price fluctuations in the market will be reduced and the farmers will be safer due to the setback prevalent in the market after post harvesting scenario”.
Union Agriculture and Farmers Welfare Minister was addressing at the eve of inauguration of 14th Commodity Future Summit organized by ASSOCHAM. Shri Singh said that “this is good indication for the agriculture arena of the country that ASSOCHAM is taking interest to revitalize agricultural sector by adopting sophisticated techniques so as to improve production in agricultural sector. Today’s conference is meant for exchange views on the topic that how commodity futures market can be conducive for price related balance and perils. At present there are 22 registered markets in India. As you are aware, that India has granted recognizition to three national level multi commodity exchanges. Out of them 1st multi commodity exchange of India (MCX) and 2nd National Commodity And Derivatives Exchange Limited (NCDEX) in Mumbai and 3rd named as National Multi Commodity Exchange India Limited (NMCE) is located in Ahmedabad. There are excellent international leveled methodologies regarding trading, clearing, settlement and governance structure in these markets. In addition to this erstwhile Forward Market Commission (FMC) has recently been merged with SEBI. All commodity exchanges have been placed on regulatory monitoring with the condition applicable for security exchange”.

Agriculture and farmers Welfare Minister added that “the tremendous problem related to agricultural field that most of Indian farmers are small and marginal’s and they do not enjoy specific capacity to transect the deals concerned. They deal with their business in low benefitting markets and are victimized to exploitation owing to limited awareness about marketing. A better developed future markets for farmer meant for agricultural commodities attribute to great importance. National Agriculture Market (NAM), a Pan India Electronic Trade Portal is an important measure taken by Central Government in this direction. There will be a single window service for all information and services related to NAM portal APMC. There will also be a provision for the availability of commodities, their price, sale and purchase, related trade offers, to respond the offers pertained to trade along with other services. Whereas the inflow of commodities related to agriculture will be unabated in the markets. Due to online market the cost pertained to transactions will be lesser and transparency concerned will be enhanced. The Cabinet Committee on Economic Affairs (CCEA) has granted a budget of Rs. 200 crore on 1st July 2015 for formulating a NAM portal. Department of Agriculture, Cooperation and Farmers Welfare will impart a grant of Rs. 175 crore for 585 markets during 2015 to 2018”.

Shri Singh further added that they have “formulated a interactive farmer portal to provide information to the farmers. It will provide all related information to the farmer in their own language. During this process the farmers can put up their queries and also retort about them. A well developed storage methodology is also important for the success of commodity exchange. Government of India is supporting a plan formulated by Storage Development and Regulatory Authority (WDRA) at existing scenario. There are 949 storages registered with WDRA. Indian farmers are the real face of India. He inspires all approaches being carried out for interest of the farmers”.
MSP for Copra for 2016 season 
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for Copra for 2016 season. The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body, takes into account the cost of production, overall demand-supply, domestic and international prices, cost of conversion of copra into coconut oil, the likely effect of the Price Policy on the rest of economy, besides ensuring rational utilization of production resources like land and water, while recommending MSPs.

The Minimum Support Price (MSP) for Fair Average Quality (FAQ) of “Milling Copra” has been increased to Rs.5950/- per quintal for 2016 season from Rs. 5550/- per quintal in 2015. Also, the MSP for FAQ of “Ball Copra” has been increased to Rs.6240/- per quintal for 2016 season from Rs. 5830/- per quintal in 2015. The MSP of Copra is expected to ensure appropriate minimum prices to the farmers and step up investment in Coconut cultivation and thereby production and productivity in the country.

The National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) would continue to act as Central Nodal Agencies to undertake price support operations at the Minimum Support Prices in the Coconut growing states.

Besides increase in Minimum Support Prices (MSP) for Copra, Government has taken several other farmer friendly initiatives over the last one year. These, inter-alia, include the following:

A new crop Insurance scheme for farmers’ welfare, namely, the ‘Pradhan Mantri Fasal Bima Yojana’ has been introduced under the scheme, there will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 1.5% for all Rabi crops. In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.There is no upper limit on Government subsidy.

Government has also created portal on crops insurance in order to keep farmers better informed.

A Scheme to issue Soil Health Card to every farmer has been introduced. Soil health management in the country is being promoted through setting up of soil & fertilizer testing laboratories and implementation of organic f Government has also framed guidelines under Paramparagat Krishi Vikas Yojna (PKVY) to promote organic farming and develop potential market for organic products.

The Pradhan Mantri Krishi Sinchai Yojana, has been launched with the objective of creating sources of assured irrigation.

A dedicated Kisan Channel has been started by the Doordarshan to address various issues concerning farmers.

An initiative is being taken to set up a National Agriculture Market (NAM). This would enable farmers to overcome the impediments in marketing of agricultural produce and get better price discovery. A common e-market platform is being created and would be provided free of cost to the States/UTs that undertake to introduce a single license for trading in the whole state, a single point levy of market fee and permit e-trading Government is also encouraging formation of Farmer Producer Organisations. 

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