theIASHub | 19 Feb, 2024
Context: Recently, the Union Commerce and Industry Minister proposed the diversification of crops involving cooperative societies like NAFED entering into five-year contracts with farmers, ensuring purchases at MSP without quantity limitations. This approach would also conserve Punjab’s water resources and safeguard its soil.
National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED)
oFacilitating Marketing and Trading Activities: The cooperative institution aims to facilitate, coordinate, and promote the marketing and trading activities of its partners and associates.
oUndertaking Purchase, Sale, and Supply: Another objective is to undertake the purchase, sale, and supply of various requisites crucial for agriculture, marketing, and processing.
oFunctioning as a Warehouseman: The institution also operates as a warehouseman under the Warehousing Act. It has the authority to own and construct its own godowns and cold storage, thereby facilitating storage and preservation of goods.
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