‘Agri-market revolution needed to improve the lot of farmers’

There is a need for a market revolution on the lines of the green revolution to improve the economic conditions of the farmers, said L.B. Hugar, Dean of Agriculture, University of Agricultural Sciences (UAS), Raichur.

Addressing a seminar to create awareness and education on ‘Agri-Business and Commodity Price Risk Management’, sponsored jointly by The Hindu Business Line , Ministry of Consumer Affairs, Forward Market Commission, and the National Commodity and Derivatives Exchange (NCDEX) in Raichur, Hugar said farmers need help in overcoming the problems, especially related to markets, and in getting remunerative and assured prices to their produce.

‘Neglected lot’

Hugar lamented that despite the farmers playing a crucial role in the success of the green revolution and helping the country attain self-sufficiency in foodgrain production, they continue to face problems.

“The hands that fed the millions by increasing foodgrain production continued to remain hungry and exploited due to the failure of the successive governments to ensure that farmers get remunerative prices for their produce and addressing other problems faced by the farming community.”

Hugar said the foodgrain production increased from 50 million tonnes prior to the green revolution to 250 to 300 million tonnes, thanks to the sheer hard work and perseverance of the farmers, but the problems faced by the farmers 50 years ago remain unaddressed even today, albeit in different dimensions.

Market mechanism

He said there was a need for changing the market mechanism in agriculture with more transparent and farmer-friendly market atmosphere. “Agriculture produce market continues to remain traditional in its approach without changing with the times.”

For reasons best known to authorities, transparency in agriculture marketing and related issues remain unexplored.

Hugar said the authorities should adopt advances in information technology for modernising the agriculture marketing system.

He said that the futures market trading is one modern way of marketing which can provide answers to the traditional problems of the farming community.

Stakeholders, including representatives from trade and industry, progressive farmers and students from the agriculture university participated in the seminar.

Risk management

G. Chandrasekhar of The Hindu Business Line spoke on ‘Commodities as Driver of India’s Economic Growth.’ He said that in order to meet the challenges in the economic front in the changed environment of reforms oriented economy, there is a need for the stakeholders to have a global view of the market and reduce the risk perception in trading.

Assistant Manager of the NCDEX Nilesh Pinjarkar gave an insight into the working of the NCDEX and how it helped the farmers to get remunerative prices and gave access to markets all over the country.

Audience queries

Later the experts, including Chandrasekhar and Pinjarekar, replied to queries raised by participants during the open house discussion.

V. Sudarsanam, professor of BRB College, sought to know whether the NCDEX would start their operations in Raichur and Pijarekar and Chandrasekhar said that the NCDEX would consider the proposal and take necessary steps.

President of the Raichur Chamber of Commerce and Industry Jawahar Jain welcomed and Secretary Trivikram Joshi proposed a vote of thanks.

Federation of Karnataka Chamber of Commerce and Industry and Raichur Chamber of Commerce and Industry supported the initiative taken for the first time in Raichur by The Hindu Business Line . State Bank of Mysore was the banking partner of the initiative.

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