WBSMB tries to rope in MCX for commodity marketing

Published: Monday, September 11, 2006, 14:04 [IST]

Kolkata, Sep 11 (UNI) West Bengal State Marketing Board, engaged in marketing agri produces, is trying to rope in Multi Commodity Exchange (MCX) to introduce electronic spot and 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.

Lack of proper marketing facilities often come in the way of the farmer to secure a remunerative price for both the commodities.

WBSMB CEO and Member-Secretary Ashok Santra said they have invited MCX to help create transparent pricing as well as marketing mechanism for tomato and pineapple.

To start with the 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.

As part of the efforts to offer remunerative pricing to farmers WBSMB has been carried out a pilot project on chilli produced in North Bengal districts by offering refrigerated van services, Mr Santra said.

MCX Managing Director Jignesh Shah said they have discussed the issue and they would ponder on it.

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.

UNI TJP JYN AKP1343

 

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