Date:09/11/2004 URL: http://www.thehindubusinessline.com/2004/11/09/stories/2004110900661200.htm

Back Sharad Pawar visits NCDEX

Our Bureau

Mumbai , Nov. 8

THE Union Minister for Agriculture, Food and Consumer Affairs, Mr Sharad Pawar, visited the National Commodities and Derivatives Exchange here on Monday and inspected the facilities and services offered by the exchange. Later, the minister held discussions with a select group of experts on commodity markets.

Keen to ensure that marketing of agriculture produce through the system of mandis or marketing yards across the country is considerably strengthened, and tangible benefits in terms of price dissemination and marketing facilities are delivered to growers, Mr Pawar said all the marketing yards should be networked and connected with commodity futures exchanges.

Responding to the suggestion, Mr P.H. Ravikumar, Managing Director and Chief Executive Officer of NCDEX, assured the minister that the exchange would take the matter forward.

Mr Pawar expressed concern over the falling cotton prices in the wake of a bumper crop and low international prices. He wanted the trade to explore export possibilities. Regarding sugar, he pointed out that, despite a lower output this season, the country had sufficient stocks to tide over the situation.

Issues relating to agricultural credit, rural infrastructure, irrigation facilities and crop diversification were also discussed.