Krishi VaartaKrishi Jaagran
Market Price will be Estimated Three Months in Advance
For farmers, the government has launched a platform that already offers warnings on potential market prices. Food Processing Minister Harsimrat Kaur Badal launched the forum. The estimated sale price for the next three months will actually be determined using this database.
The portal currently offers details on future prices for potatoes, onions and tomatoes. During the near future, however, details on other vegetables will also be incorporated. Not just this, this platform will also alert farmers in the event of declining prices. This system, called Market Intelligence and Early Warning System (MIEWS), was designed by NAFED. The platform is capable of providing data on 1,200 markets tracked by the private company, Agriwatch.
Sudden market prices of goods abruptly decline and many factors are attributed to this, such as the economically weak market or the sudden degradation of the environment, etc. Every time farmers face losses due to declining market prices. In such a situation, with the aid of this portal, farmers can already estimate costs.
Source: Krishi Jagran, 18 March 2020
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