Farmers will get help in fixing the price of their crop, NCDEX launches special call center

Now farmers and Farmer Producer Organizations (FPOs) will now be able to easily get information about agri-deridutils and related market infra services. Agri-commodity bullion NCDEX and its Investor Protection Fund Trust have launched a call center today (March 29). With this initiative, farmers and FPOs will get real time information related to the working of the exchange, product related information, spot price, delivery and settlement etc. NCDEX is a commodity exchange on which trading of agricultural products like wheat, gram, bajra and jaggery takes place. In a way, it can also be called the share market of farmers.

This initiative has started for the first time

According to Arun Raste, MD (Managing Director) and Chief Executive Officer (CEO) of NCDEX, the call center has been started to provide information related to the derivatives market to farmers and FPOs, it is the first of its kind. He said that this facility will help in bridging the gap between NCDEX and farmers and bring them in the mainstream of marketing of agricultural products. The farmers living in far-flung areas of the country will benefit the most.

Farmers will get many types of information

On the occasion of its launch, VS Sundaresan, executive director of market regulator Securities and Exchange Board of India (SEBI), called it an important step in the right direction. He said that derivatives provide effective risk management tools to the farmers but there is not much information about it among the farmers. SEBI is working on this and the call center will support their efforts. According to NCDEX , the call center will not only provide information on derivatives trading but also electronic negotiable warehouse receipt based financing and electronic spot trading through auctions and reverse auctions so that farmers can connect with the entire agri-value chain.