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Post-harvest profile of red gram - Agmarknet

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National Co-operative Development Corporation (NCDC) was established in 1956 forstrengthening and promoting agricultural marketing through co-operative societies.The co-operative marketing societies consists 3-tier structure: -i) Primary Marketing Society (PMS) at the village level.ii) State Co-operative Marketing Federation (SCMF) at the state level.iii) National Agricultural Co-operative Marketing Federation <strong>of</strong> India Limited (NAFED) at thenational level.There are 3216 general purpose and 5385 special commodity co-operative marketingsocieties in the country. General purpose apex level marketing federations have been set upin 26 states and 4 Union Territories (Andman and Nicobar Islands, Delhi, Lakshadweep andPondicherry) with National Agricultural Co-operative Marketing Federation <strong>of</strong> India Limited(NAFED).Benefits:✸✸✸✸✸✸✸✸✸✸Remunerative price to producersReduction in cost <strong>of</strong> marketingReduction in commission chargesEffective use <strong>of</strong> infrastructureC<strong>red</strong>it facilitiesTimely transportation serviceReduces malpracticesMarketing informationSupply <strong>of</strong> agricultural inputsCollective processing7.4 Forward and future markets:Forward trading means an agreement or a contract between seller and purchaser, fora certain quality and quantity <strong>of</strong> a commodity for making delivery at a specified future time, atcontracted price. It is a type <strong>of</strong> trading, which provides protection against the price fluctuations<strong>of</strong> agricultural produce. Producers, traders and millers utilize the future contracts to transferthe price risk. Presently, future markets in the country are regulated through ForwardContracts (Regulation) Act, 1952. The Forward Markets Commission (FMC) performs thefunctions <strong>of</strong> advisory, monitoring, supervision and regulation in future and forward trading.Forward trading transactions are performed through exchanges owned by the associationsregiste<strong>red</strong> under the Act. These exchanges operate independently under the guidelines issuedby the FMC.After the recent decision in February 2003 <strong>of</strong> the Cabinet Committee on EconomicAffairs (CCEA), Government <strong>of</strong> India, Red <strong>gram</strong> has been allowed for future trading, undersection 15 <strong>of</strong> the Forward Contracts (Regulation) Act <strong>of</strong> 1952. Earlier, Red <strong>gram</strong> was notallowed for future trading.47

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