NCDEX gets farmers’ body on board for derivative trade
Agri-commodity bourse NCDEX today said as many as 99 FPOs — farmers producers organisations — from 14 states are registered on its trading platform so far with latest to enter is one FPO each from Kerala and Gujarat.
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. An FPO from Kerala hedged in the relaunched black pepper futures contract, while the one from Gujarat traded in jeera futures.
“Total 99 FPOs have opened their accounts so far and more than 119 FPOs are in process of opening their account with NCDEX (National Commodity & Derivatives Exchange Limited),” the exchange said.
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.
The exchange is creating awareness by educating farmers across the country and is planning to reach over 3 lakh farmers by March 31, 2018.