Forward trading will help farmers plan their planting of crops and do away with middlemen in selling the commodities, Union Minister Radha Mohan Singh said today.
Speaking at an event here, the Agriculture Minister said the government is working on a concrete plan to link the farmers with the markets.
Forward Trading is an index of predictive pricing and as a result, both the buyer and seller can plan their futures trading. This would help farmers plan their crop planting and also do away with the role of middlemen, he was quoted as saying in an official release.
Sebi Chairman Ajay Tyagi was also present at the event. It was also the first public event attended by Tyagi after taking charge earlier this month.
He said efforts are on to further deepen the commodities market.
Meanwhile, Singh said the country is not only self- sufficient in agricultural production but also exports foodgrains. He also added that agricultural growth has more than doubled from 2 per cent to 4.4 per cent.