Train farmers for trade
National Commodity and Derivatives Exchange Limited's Institute of Commodity Market and Research has submitted its report to Abhijit Sen Committee on measures that need to be taken to ensure farmers' security in futures trading. The report agrees with the need for futures trading, but differs on when and how it should be introduced. The recommendations are:
Form farmers' cooperatives
Train farmers on futures trading
Introduce a transparent market
Set up banks on behalf of farmers which will protect them from a future slump in the market. Corporate houses should be roped in as aggregators
Provide warehouse facilities to average farmers and ensure proper dissemination of market information