Leading commodity exchange National Commodity and Derivatives Exchange Ltd (NCDEX) has signed a memorandum of understanding (MoU) with Institute of Rural Management Anand (IRMA) with special emphasis mentoring farmer producer organisations and allied institutions.
The mentoring is expected to occur through training sessions, handholding and leadership development. High-level delegations of the two entities held meetings in Mumbai to discuss scope of a joint certification programme on commodity markets.
IRMA is expected to support the training and development needs of market ecosystem stakeholders to spread awareness about commodity markets with an emphasis on derivatives. A joint certification programme has been envisaged where IRMA students can learn about commodity markets, besides providing training to agro sourcing professionals, skill upgrades of government officials, supportive awareness programmes and research.
IRMA director Hitesh Bhatt said: “While organisational encouragement does exist for the setting up of FPOs, the latter need support for scale-up and sustainability purposes. This MoU will enable both parties to instill collaboration with meaningful outcomes.”
NCDEX managing director and CEO Vijay Kumar said- “This MoU is an affirmation and recognition of our efforts to bring FPOs and farmers to the exchange platform and shows that our sustained campaign has started giving results.”