Q. Why is this in news?
A. The central cooperative NAFED will soon begin importing onions in a bid to tame soaring prices before the festive season.
Q. What is NAFED?
- National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) is an apex organization of marketing cooperatives for agricultural produce in India.
- It was founded on 2 October 1958 to promote the trade of agricultural produce and forest resources across the nation.
- It is registered under the Multi-State Co-operative Societies Act.
- 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.
Q. What are the Functions of the NAFED?
- To facilitate, coordinate and promote the marketing and trading activities of the cooperative institutions, partners and associates in agricultural, other commodities, articles and goods
- To undertake purchase, sale and supply of agricultural, marketing and processing requisites, such as manure, seeds, fertilizer, agricultural implements and machinery etc.
- To act as a warehouseman under the Warehousing Act and own and construct its own godowns and cold storages
- To act as agent of any Government agency or cooperative institution, for the purchase, sale, storage and distribution of agricultural, horticultural, forest and animal husbandry produce, wool, agricultural requisites and other consumer goods
- To act as an insurance agent and to undertake all such work which is incidental to the same