The Hindu Business Line : MCX ties up with pulses importers, farmers body

MULTI Commodity Exchange of India Ltd (MCX) has made another strategic move by tying up with Shetkari Sanghatana, the country's leading farmers' organisation, and the Pulses Importers Association.

The exclusive tie-up will lead to widespread participation by the actual producers and farming community.

Speaking on the tie-up and the underlying objective of the alliance, Mr Sharad Joshi, the founder of Shetkari Sanghatana said: "We are committed to various reforms that improve the economic power of farmers and we are willing and ready to work with MCX to implement the same. I take this opportunity to confirm that my organisation would ensure the support and participation of the farmers to use the services provided by MCX."

Mr K.C. Bhartia, President, Pules Importers' Association said: "We are committed to develop futures trading in pulses and food grains and our association with MCX establishes and further our cause. MCX is the leading commodity exchange in the country and participation from large association and our members would ensure the developments of the pulses market in the fastest possible manner."

Mr Jignesh Shah, Managing Director, MCX said, "MCX as a nation-wide online Commodity Exchange has already scored and recorded its success on all these factors. This achievement of MCX along with the strength and reach of Shetkari Sanghatana and PIA will act as a conduit for taking this success to its ultimate users, that is the Indian farming community."