NCDEX develops rainfall index
With southwest monsoon just around the corner, the country’s leading agri-commodity bourse NCDEX on Sunday said it has developed rainfall index, a tool to track the progress of monsoon.
After taking feedback from market stakeholders, the exchange will launch the rainfall index for trading as a derivative instrument, it said.
Both farmers and commodity traders can take positions on this index as the instrument can be used as a hedge against excess or deficient rains.
Unconvinced over benefits, Madhya Pradesh may quit PM crop insurance scheme
According to highly-placed sources, the Shivraj Singh Chouhan government is toying with the idea of exiting the Pradhan Mantri Fasal Bima Yojana (PMFBY) as it feels the farmers in the State are not benefiting from it.
it could be a major embarrassment for the Modi government, which has portrayed PMFBY as a great success story, and could also threaten the very existence of the scheme. For, M.P. accounts for nearly one-fourth of the total area insured under the PMFBY, as well as the total premium collected under the crop insurance scheme. In 2018-19, for instance, nearly 130 lakh hectares (kharif and rabi combined) of crops were insured under PMFBY in the State, against 519 lakh hectares nationwide.
Ninjacart launches FoodPrint to map veg and fruit details
Ninjacart, the B2B fresh food supply chain, has launched FoodPrint, a traceability initiative for its fruit and vegetable supply chain to track the journey of the produce from farm to home.
FoodPrint is to be launched on the occasion of ‘World Food Safety Day’ on June 7, Ninjacart said in a statement.
Consumers will now be able to trace the journey of farm produce and view the real-time footprint data of the fresh fruits and vegetables they ordered through the FoodPrint Viewer feature available on the official website. One has to order from Ninjacart’s partner grocery stores through Swiggy, Zomato, Dunzo, and other online platforms to view the FoodPrint data, the company said.