India is not a perfect market for commodities because of several barriers and there is a need for integration with global market, SK Pattanayak, Secretary, Department of Agriculture, Cooperation and Farmers Welfare said.
Releasing ‘India Commodity Year Book 2016’ of National Collateral Management Services Ltd (NCML) in New Delhi on Thursday, Pattanayak said that India is microcosm of several countries and it calls for such agriculture polices that meet the requirements of different segments.
“ The way commodities behave, it is difficult to take a perfect or permanent decision at certain point of time. Sometimes we need to import and at time the government bans it. The government has solid rationale while taking any such decision,” he added.
The agriculture secretary said that the yearbook provides window of opportunities for all stakeholders including the government. “ It is an eye opener and helps in taking corrective measures,” he added.
NCML is a leading player in warehousing and collateral management. The Yearbook was edited by Sanjay Kaul MD and CEO, NCML.This marks the 7th successive year that the book has been published.
“The NCML Commodity Year Book has become the country’s benchmark publication on commodities.The 2016 Year Book focuses on commodity inflation and monetary policy, the National Agriculture Market, commodity futures market, food politics, implications of SEBI-FMC Merger on commodities market, VUCA drivers in commodity markets and weather insurance, besides commodity specific articles on pulses and cotton,” Kaul said.
The Statistical Section of the Book contains a rich commodity data base that provides information for the last 10 years together, with expectations for the current and next year.
“Views are independent. Authors have analysed the polices and issues in depth.Government’s schemes have been evaluated. For example, while appreciating National Agricultural Market(NAM) initiative of the government, the expert argues that complexity of domestic market is so large that a single platform may not be useful for all region, so we need multiple initiatives and platforms for the marketing purpose,” Kaul explained.
The book is sure to continue to be of special interest and relevance to all policy makers, researchers, analysts and commodity and finance professionals. The book will also be found useful by stakeholders in the commodity space including commodity market participants, traders, distributors, processors, importers and exporters, and all those engaged along the entire agri-value chain. Essentially, the book serves the purpose of providing insights into the vast commodity space to the general reader.