Launching of country’s first agri-commodity options

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Question: With which of the following agricultural genus country’s first agri-commodity options has been launched?
(a) Mustard
(b) Wheat
(c) Guar Seed
(d) Chana
Answer: (c)
Related Facts:

  • On January 14, 2018, Finance Minister Arun Jaitley launched the Launching of country’s first agri-commodity options.
  • This first agri-commodity option is in Guar Seed.
  • This is a new initiative that will benefit the farmers.
  • Through this, farmers will be able to get better value on their products.
  • This initiative has been launched by National Commodity and Derivatives Exchange Limited (NCDEX).
  • NCDEX Agri-Options in Guar Seed aim to provide farmers better engagement in the commodity markets.
  • NCDEX also launched Mandi.com, a mobile app for farmers where they can learn more about Options and the commodity markets.
  • After MCX, NCDEX is the second exchange of genus option to start the business.
  • Earlier, in October 2017, MCX started the option of gold. The NCDEX Agricultural Option aims to provide better interaction to farmers in the commodity markets Guar Seed.
  • On this occasion, NCDEX also launched a mobile application market for the farmers. Through this app, you can get more information about the farmers’ choice and commodity market.

Reference:
http://pib.gov.in/PressReleseDetail.aspx?PRID=1516662