This was disclosed by the state cooperation minister, Jaiprakash Mundada at the technical session titled "Finance for Agriculture and Related Activities," on the second day of the state-sponsored Agro Advantage Maharashtra Global Investor's Convention in the city.

The plan, according to Mudada, envisages modernisation of urban market centres and integration of all marketing centres in the state.

"This will also aim at development of strong market information exchange and marketing extension." Mundada said that there were in all 259 principal market yards and 585 sub markets and added that the Maharashtra State Agricultural Marketing Board was directly involved in the design and construction of the market.

The recent requirements for agricultural finance was quite large andit has acquired tremendous importance because of export opportunities and competitive trends. Mundada stressed the scope for joint ventures in such financing and added that the central and state governments have been coming up with an attractive package of incentives. ``Finance for marketing for the development of agricultural marketing and infrastructural facilities ar absent and financial institutes and investors should come forward to reduce the role of money lenders who are exploiting the farmers," the minister said.

The minister said that the finance was required mainly for development, production, marketing, value addition and agricultural marketing infrastructural facilities. The development finance will be largely needed for land development and modernisation of agriculture at all stages. The production finance will be required for traditional and non-traditional crops, open cultivation and for cultivation of polyhouses.

Marketing has gained tremendous importance in the changing scenario andfinance will be required at levels starting from pre-harvest care to post- harvest requirements and processing.

The minister said that there has been a rising trend among the farming community to go in for value-addition.

He said finance will be needed mainly for primary processing of agricultural produce, its sales in the non traditional chain (for example minimising the agents by branding, labelling and other processes) and processing by adopting appropriate market-driven technologies.

Funds were essential for long-term with soft rate of interest for marketing infrastructural facilities and it should be subsidised for small and marginal farmers.

The rates of interest, according to the minister, should be six-seven per cent for longer term loans.