The Agricultural Commodity Exchange NCDEX and its Investor Protection Fund (IPFT) on Tuesday launched a call center to impart knowledge about agricultural derivatives and related essential market services to farmers and FPOs.
The initiative will help farmers and Producer Farmers Organizations (FPOs) to access all kinds of information related to exchange functions, product related inquiries, spot prices, delivery, settlement related inquiries, etc. on a real time basis.
“This will be the first of its kind kind of call center providing information to directly link farmers and agricultural regulators to the derivatives market. I am sure the facility will bridge the gap between NCDEX and farmers, especially those who live in remote areas across the region,” said NCDEX Managing Director and CEO. Aaron Rusty, in a statement that the state was introduced into the mainstream of agricultural marketing.
Speaking at the launch event, Executive Director of the Securities and Exchange Board of India (SEBI), VS Sundaresan, said, “It is a step in the right direction and I congratulate NCDEX as well as the farming community for this valuable initiative.
He said derivatives provide effective risk management tools for farmers. But the level of awareness among farmers about the derivatives market is not up to the required level.
“Sebi is working hard in this direction and this call center will complement our efforts,” he added.
According to NCDEX, the information available in the call center will not be limited to derivatives trading and will provide all services under the NCDEX Group such as financing based on electronic tradable warehouse receipts, electronic spot trading through auctions and reverse auctions to enable farmers to connect to the entire agricultural value chain.
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