In the past few years, due to the lack of agricultural storage capacity, there has been significant wastage of food grains throughout the country, forcing farmers to sell their crops at lower prices. To address this challenge and increase grain storage capacities, the 'World's Largest Grain Storage Scheme in the Cooperative Sector' is underway in 24 states/union territories of India. The primary objective of this major project is to construct various agricultural infrastructures at the Primary Agriculture Credit Society (PACS) level, including warehouses, custom hiring centers, collection centers, and fair-price shops. With this decision, farmers will now have access to modern grain storage facilities at the block level through PACS, strengthening food security and empowering farmers by ensuring better prices for their produce. Read More.. Today Weather
Specifically, Primary Agriculture Credit Societies (PACS) are grassroots level institutions, and their membership includes farmers, artisans, and members of other economically weaker sections of society as shareholders. The plan aims to build decentralized storage capacity and essential infrastructure to enhance the economic viability of PACS, benefiting from a storage capacity of over 100,000 PACS. This project is being implemented in 24 Primary Agriculture Credit Societies (PACS) across 24 different states/union territories with the collaboration of the National Cooperative Development Corporation (NCDC), NABARD, Central Warehousing Corporation (CWC), and Food Corporation of India (FCI). Construction has commenced in five PACS in each of the states of Tripura, Haryana, Tamil Nadu, Uttar Pradesh, and Madhya Pradesh. Read More.. Market Rates in India
It is noteworthy that farmers can store their produce in these warehouses and benefit from bridge financing for the next crop cycle. They can sell their produce at their preferred time or sell their entire crop to MSP, thereby avoiding distress sales. Through the PACS network, farmers can access various agricultural inputs and services at the Panchayat/village level. Additionally, through diversification of businesses, farmers can access additional sources of income.
