National Agricultural Cooperative Marketing Federation (NAFED)
- The National Agricultural Cooperative Marketing Federation is the nodal agency which procures and stores a buffer stock of pulses.
- National Agricultural Cooperative Marketing Federation of India Ltd.(NAFED) was established on the auspicious day of Gandhi Jayanti on 2nd October 1958.
- Nafed is registered under the Multi State Co-operative Societies Act 1984.
- Nafed was setup with the object to promote Co-operative marketing of agricultural produce to benefit the farmers.
- Agricultural farmers are the main members of Nafed, who have the authority to say in the form of members of the General Body in the working of Nafed.
- NAFED is the nodal agency to implement price stabilization measures under “Operation Greens” which aims to double the farmers’ income by 2022.
- It functions under Ministry of Agriculture.
- NAFED along with FCI with proactive role of state governments also physically procures oilseeds, pulses and copra under the Price Support Scheme (PSS) which in turn is under the umbrella scheme of PM-AASHA.
- In 2008, it established, National Spot Exchange, a Commodities exchange as a joint venture of Financial Technologies (India) Ltd. (FTIL).
- NAFED is now one of the largest procurement as well as marketing agencies for agricultural products in India.
- With its headquarters in New Delhi, NAFED has four regional offices at Delhi, Mumbai, Chennai and Kolkata, apart from 28 zonal offices in capitals of states and important cities.
Objectives of the NAFED
- The objectives of the NAFED shall be to organize, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce, distribution of agricultural machinery, implements and other inputs, undertake inter-state, import and export trade, wholesale or retail as the case may be and to act and assist for technical advice in agricultural, production for the promotion and the working of its members, partners, associates and cooperative marketing, processing and supply societies in India.
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