The Hindu Business Line : After potato, its pineapple and tomato

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After potato, its pineapple and tomato

Pratim Ranjan Bose

FUTURES TRADING

Kolkata , Sept. 9

West Bengal State Marketing Board - the State APMC authority - is planning to rope in Multi Commodity Exchange (MCX) to introduce electronic spot as well as futures trading on perishable agri-horticulture commodities such as pineapple and tomato.

West Bengal produces one of the finest varieties of pineapple and is one of the largest producers of tomato in the country. However, lack of proper marketing facilities often come in the way of the farmer to secure a remunerative price for both the commodities.

Talking to Business Line, Mr Ashok Santra, CEO and Member-Secretary of WBSMB, said that they have invited MCX to help create transparent pricing as well as marketing mechanism for tomato and pineapple. To begin with, MCX may introduce futures trading on both the commodities in collaboration with WBSMB. The latter will offer refrigeration and transport facilities and also help promote cross-border trading.

"We are working on some broad spectrum changes in the agri-marketing system in the State to offer a remunerative price to farmers by helping promote organised cross-border trading. We have carried out a pilot project in this regard recently on chilli produced in the North Bengal districts by offering refrigerated van services and encouraging farmers to form co-operatives", Mr Santra said.

The idea has also caught the fancy of the MCX Managing Director, Mr Jignesh Shah. "We have just discussed the issue. It's a nice idea and we will work on it", he said.

Mr Shah was in the city in connection with the launch of futures contracts on Kufri Jyoti potato variety linked to Tarkeswar market in Hoogly district. This is the first time any national commodity future exchange launched contracts on agri-commodities produced in the State.

MCX has already launched contracts on 3797 potato variety linked to Agra. Comparing the two contracts, an MCX official said that unlike the contracts on Agra variety, the price quotations on Bengal variety would not include the insurance, warehousing, transportation and other such charges.

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