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Union Cabinet approves ordinance for barrier-free agriculture trade

Published in Business & Finance
June 03, 2020
1 min read
Union Cabinet approves ordinance for barrier-free agriculture trade
  • The Union Cabinet has approved the “The Farming Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020”.
  • This ordinance enables farmers to sell their produce outside the Agricultural Produce Market Committee (APMC) market yards.
  • This ordinance basically aims at creating additional trading opportunities for farmers to help them get better competitive prices for their goods.
  • This will supplement the existing Minimum Support Price procurement system which provides a stable income to farmers.
  • This ordinance also proposes an electronic trading and transaction platform, for ensuring a seamless trade electronically.
  • This ordinance will also promote barrier-free inter-state and intra-state trade of agriculture produce.
  • This will give freedom of choice of sale and purchase of agricultural produce for both farmers and traders.

Tags

Union CabinetAgricultureAgriculture Produce Market CommitteeMinimum Support Price
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