MCX inks MoU with Mahindra Agri for data on agri pricing

By: | Published: August 3, 2017 5:08 PM

Multi Commodity Exchange of India Ltd (MCX) and Mahindra Agri Solutions Ltd have signed a pact to provide agriculture related price information.

mcx, mou mahindra agri, data on agriculture pricing, Multi Commodity Exchange of India Ltd, Mahindra Agri SolutionsMahindra Agri Solutions Ltd is a wholly owned subsidiary of Mahindra & Mahindra. (Reuters)

Multi Commodity Exchange of India Ltd (MCX) and Mahindra Agri Solutions Ltd have signed a pact to provide agriculture related price information. Mahindra Agri Solutions Ltd is a wholly owned subsidiary of Mahindra & Mahindra. The Memorandum of Understanding (MoU) will enhance the decision-making ability of the farmers further. To start with, MCX will be providing price information, open interest information, spot price, future price and derived data (analytics) for all the agri commodities namely – CPO (crude palm oil), cotton, cardamom and mentha oil, a statement said. This information will be available on its mobile application- ‘MyAgriGuru’, it added. Mrugank Paranjape, MD and CEO, MCX said, “By partnering with Mahindra Agri Solutions, we hope to include participation from the grass root level in the agricultural value chain and support the government’s initiative of significantly enhancing the farmer’s income by 2022.” “Through this partnership, we will enable farmers to manage prices and also provide them with solutions that boost both agricultural productivity and farm incomes substantially,” said Mahindra Agri Solutions managing director & CEO Ashok Sharma said.

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