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What Is The Concept Of Contract Farming

GeekBuying.com
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• The concept of contract farming refers to a system of farming in which bulk purchasers including agro-processing firms and exporters enter into a contract with farmers to purchase a specific quantity of any agricultural commodity at a pre-agreed price.
• It’s a two way process- farmers grow and supply the product to the buyer at predetermined quantity and prices, while the buyers agree to buy Product from farmer at a predetermined price.
• The contract farming functions as a tool to minimise price risk for farmers.
• It aims to reduce post harvest losses.
• Farmer Producer Organisations have a major role in promoting Contract Farming And Services Contract.
• It seeks to increase private sector investment in agriculture.

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