NCDEX, IPFT launch call centre to create awareness about agri-derivatives

Agri-commodity bourse NCDEX and its Investor Protection Fund Trust (IPFT) on Tuesday launched a call centre to impart knowledge about agri-derivatives and related market infra services to farmers and FPOs.

The initiative will help farmers and farmer producer organizations (FPOs) to access all types of information regarding the exchange functionalities, product-related queries, spot prices, delivery and settlement related queries etc. on a real-time basis.

"This will be the first-of-its-kind type of the call centre offering information to directly link farmers and FPOs to the derivatives market. I am sure the facility will bridge the gap between NCDEX and farmers, particularly those in remote areas across the country and bring them into the mainstream of marketing of agricultural produce, NCDEX Managing Director and Chief Executive Officer Arun Raste said in a statement.

Speaking at the launch, Securities and Exchange Board of India (SEBI) Executive Director V S Sundaresan said, "It is a step in the right direction and I congratulate NCDEX as well the farmers' community for this valuable initiative.

He said that derivatives provide effective risk management tools to farmers. But the level of awareness among farmers about the derivatives market is not up to the mark.

"SEBI has been working hard in that direction and this call centre will complement our efforts," he added.

According to NCDEX, the information made available at the call centre will not be limited to the derivatives trading and it will offer all services under the NCDEX Group such as Electronic Negotiable Warehouse Receipt-based financing, and electronic spot trading through auctions and reverse auctions to enable farmers' connect to the entire agri-value chain.