The Andhra Pradesh cabinet has decided to allow e-trading spot exchange for agricultural commodities by amending the Marketing Act. The government proposes to give licence to the National Spot Exchange to operate in the state as an online trading platform between farmers and traders. This will also provide a choice to farmers to either sell their produce at conventional agricultural markets or through e-trading exchange.
The government expects online trading to give farmers an exposure to the nationwide market along with better access to information on prices across the country. “Farmers can quote price for their produce on the online trading platform where traders, corporate firms and importers will compete to buy the commodity. This way, the role of intermediaries is expected to come down in deciding the price of agricultural commodities,” K R Kishore, principal secretary —marketing department, said in a release.
