Maharashtra's Innovative Hedging Desk: Securing Farmers' Future

The Maharashtra government has introduced a new hedging desk in Pune under the Balasaheb Thackeray Agribusiness and Rural Transformation (SMART) Project to stabilize farmers' incomes by offering protection against market price fluctuations.

The initiative currently focuses on cotton, turmeric, and maize while planning to expand its reach to more agricultural produce. Supported by the National Commodity & Derivatives Exchange and its research wing NCDEX Institute Of Commodity Markets and Research (NICR), the project trains farmers in hedging techniques and options trading to minimize financial risks.

Over 3,000 farmers will receive training to participate in the commodity futures market, gain market intelligence, and benefit from significant income security measures. The initiative reflects a formal agreement between NCDEX and the SMART Project, aiming to significantly impact Maharashtra's agricultural sector.

(With inputs from agencies.)