MCX inks pact with Maharashtra govt to empower cotton farmers

The Multi Commodity Exchange of India (MCX) has signed an agreement with the Maharashtra government to empower cotton farmers in the Vidarbha region.

Under the memorandum of understanding (MoU), MCX will partner with Maharashtra’s agriculture department and other government agencies to work closely with Farmer Producer Organisations (FPOs) and help them to connect to the exchange’s organized market network and enable them to build their capacities, a release said.

It aims to create a value chain with final market linkages to support thousands of cotton farmers in Akola, Amravati, and Wardha.

“Under ‘Cotton Mission’, the exchange will work with the government to identify and create farmer groups, and work towards equipping these groups to access regulated markets that will enable them to participate in a transparent price discovery mechanism and sell their products in a national market for better price realization,”

MCX already has accredited warehouses in Yavatmal and Jalna, according to the release.

To further facilitate delivery of cotton in the region, the exchange plans to provide delivery facilities in three or more new locations in Vidarbha.

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