India’s NCDEX inducts farmers producers organisations on board for derivative trade

Indian agri-commodity bourse NCDEX  said as many as 99 Farmers Producers Organisations (FPOs) from 14 states are now registered on its trading platform, with the latest to sign-up from Kerala and Gujarat.

“A total of 99 FPOs have opened their accounts so far and more than 119 FPOs are in process of opening their account with NCDEX,” the exchange said.

More than 21,000 tonnes of commodities have been traded by FPOs on the NCDEX platform till September of this year. More growers are showing interest, it said in statement

In September alone, one FPO each from Kerala and Gujarat participated on the NCDEX platform for the first time.

The FPO from Kerala hedged in the relaunched black pepper futures contract, while the one from Gujarat traded in jeera futures.

Commenting on the progress, NCDEX MD and CEO Samir Shah said the sustained campaign has yielded results. The derivative market is an additional marketing channel for better realisation of farmers’ income.

NCDEX has introduced several technological firsts to make trading easier on its platform. A few weeks ago it made warehousing facilities that could be done digitally.

The exchange is creating awareness by educating farmers across the country and is planning to reach over 300,000 farmers by end of March 2018.

 

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