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FM says Agri sector deserves fair share in fruits of growth

By TIOL News Service

NEW DELHI, JAN 15, 2018: THE Union Finance Minister, Mr Arun Jaitley, has said that India ranks among the fastest growing major economies in the world today. He said that since a large portion of our population is dependent on agriculture, it is important to have equitable growth. Mr Jaitley said that farmers have helped the country to overcome a long period of scarcities to reach the present era of abundance.

Mr Jaitley was delivering the Inaugural Address after launching the country's first agri-commodity options in Guar Seed in New Delhi today. He said that NCDEX Agri-options are an important tool which will contribute to the Prime Minister's vision of doubling the farmers' incomes by 2022. The Finance Minister said that the Guar seed is a major contributor to revenue generation, hence making it a suitable commodity to start with for Options . The Finance Minster congratulated the NCDEX for this initiative.

Speaking further on the occasion, the Finance Minister said that this may appear to be a small step, but is a significant one, in the direction of agricultural trade as this will ensure that the farmers will receive a better price for their commodities.

Total Volume Traded 8010 MT; Total Open Interest 4290 MT; Approx. Traded Value INR 36 Crore on the basis of Notional Turnover

NCDEX Agri-Options in Guar Seed aim to provide farmers better engagement in the commodity markets.

NCDEX also launched Mandi.com, a mobile app for farmers where they can learn more about Options and the commodity markets.For a commodity trader or member of a Farmer Producer Organization( FPO), this would be an additional tool to hedge your price risk and optimize your profits with the launch of Agri-Options here today by the Union Finance Minister, Mr. Arun Jaitley, The First ever Agri-Options trade was executed in front of a panel of distinguished guests.

National Commodity and Derivatives Exchange Limited (NCDEX) launched India's first Agri-Options on guar seed futures in the presence of SEBI, WDRA, Industry Associations, Government Officials and FPO members. F armers from various States across the country were present at the occasion to mark the commencement with a Live Trade by a farmer producer company.


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