The agricultural market environment is changing with unprecedented speed and in very diverse ways locally and globally. These dynamics affect farm prices and thereby farm income. The majority of the rural producers are unable to understand and interpret the market and price behaviour to their advantages. Hence, market information and intelligence are crucial to enable farmers and traders to make informed decisions about what to grow, when to sell, and where to sell.
The most important marketing information input required by a farmer in the current scenario is the price intelligence. Successful marketing of high value produce like cotton, chilli and other crops, need to have a fairly good understanding of markets, prices and consumer preferences by the stakeholders. Most farmers still lack a good understanding on these aspects. Keeping this fact in mind, an Agricultural Market Intelligence Centre has been established at our farmland with the Support of Professor Jayashankar Telangana State Agricultural University, Rajendranagar Hyderabad from the Agricultural Marketing Department intelligence shared to the farmer on below crops, Government of Telangana to disseminate timely,comprehensive, current and future price information on agricultural commodities for better decision-making by farming community, traders, firms, researchers and policy makers.
The price forecasts are made by analysing the prices of Agricultural Commodities collected from major markets concerned over 15-20 years using advanced statistical tools like ARIMA, SARIMA, ARCH GARCH, ANN, etc., econometric models, comparing the same with prices of futures markets and national and international reports of trade surveys besides conducting state level trade surveys.
The market intelligence including price forecasts for major crops well in advance of sowing of each crop and before harvest of the same will be continuously disseminated by the centre through various print and mass media, Agricultural Department, Marketing Department, Agricultural Market Committees, web portals, etc. Training and capacity building of all the stakeholders for better use of the market intelligence in their production and marketing decisions and a continuous impact assessment of the same would form the other research and extension activities of the Centre.
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