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LATEST NEWS UPDATES | A new market intelligence and price information for farm produce on anvil -TV Jayan

A new market intelligence and price information for farm produce on anvil -TV Jayan

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published Published on Nov 8, 2020   modified Modified on Nov 9, 2020

-The Hindu Business Line

Farmers who would be selling their produce at farmgate under the recently-enacted Farmers’ Produce Trade and Commerce (Promotion & Facilitation) Act 2020 will have real-time access to prevailing commodity prices through a market intelligence and price information system, which will be up and running soon, according to top Agriculture Ministry sources.

One of the major contentions of a section of farmers protesting against the new farm legislations was that when an agribusiness or processor buys produce from farmers in direct trade, farmers may end up selling the produce at low prices as they do not have access to price discovery.

Price discovery mechanism

“A farmer will have now four different possibilities for selling his or her produce. One, farmer can sell it in physical market, which is a notified mandi. Second, selling through virtual exchanges such eNAM or other private electronic marketplaces. Three, a contract agreement, where there is a visibility of the price. The fourth possibility is farmer selling at the farmgate,” the sources said.

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The Hindu Business Line, 8 November, 2020, https://www.thehindubusinessline.com/economy/agri-business/a-new-market-intelligence-and-price-information-for-farm-produce-on-anvil/article33052333.ece?homepage=true


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