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AGRICULTURE

Mahindra Agri Solutions, MCX ink MoU for agri-related price information
Friday, 04 August, 2017, 08 : 00 AM [IST]
Our Bureau, Mumbai
Mahindra Agri Solutions Ltd, a wholly-owned subsidiary of Mahindra and Mahindra Ltd, and Multi Commodity Exchange of India Limited (MCX), India’s number one commodity exchange, have signed a memorandum of understanding (MoU) to provide agriculture-related price information.

This information would be available on Mahindra’s recently-launched mobile app, MyAgriGuru, which can be downloaded free of cost from the Google Play Store.

The MoU is expected to enhance the decision-making ability of the farmers. To start with, MCX would be providing price information, open interest information, spot price, future price and derived data (analytics) for various agri commodities, including crude palm oil (CPO), cotton, cardamom and mentha oil.

Additionally, this partnership also signifies the vision of the two leading organisations to empower farmers by offering knowledge-based solutions, and is in line with the government’s motive to digitise the agricultural sector.
 
Speaking on the occasion, Ashok Sharma, president, agriculture sector and managing director and chief executive officer, Mahindra Agri Solutions Ltd, said, “We are delighted to sign this MoU with MCX. Our objective is to educate farmers by delivering complete information on agricultural products.”

“Today, India is experiencing an exciting phase of Farming 3.0, where we are witnessing innovative and digital disruptions in agriculture, and an initiative like MyAgriGuru is a significant step in that direction,” he added.

“In line with our philosophy of delivering farmtech prosperity, through this partnership, we will enable farmers to manage prices and will also provide them with solutions that boost both agricultural productivity and farm incomes substantially,” Sharma said.

Mrugank Paranjape, managing director and chief executive officer, MCX, said, “We are pleased to have signed this MoU with Mahindra Agri Solutions. At MCX, we have always encouraged the participants in the value chain of commodities to utilise our exchange platform and manage price risks.”

“By partnering with Mahindra Agri Solutions, we hope to include participation from the grassroot level in the agricultural value chain and support the government’s initiative of significantly enhancing the farmers’ incomes by 2022,” he added.
 
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