DMCC-India’s Cropdata deal to develop commodities products

DUBAI / WAM
Dubai Multi Commodities Centre (DMCC), the Government authority on trade, enterprise and commodities in Dubai, signed a Memorandum of Understanding with Cropdata Technology.
Based in Nagpur, India, Cropdata’s mission is to enhance the country’s agricultural sector while improving the lives of its agricultural workers, which comprise some 55 percent of India’s population.
The objective of the Memorandum is to explore how DMCC and Cropdata can collaborate to enhance bilateral trade relations with a focus on agricultural-based commodities, a sector that has shown remarkable stability according to the World Bank’s Agricultural Price Index, with grains showing the most promise, posting 4 percent price gains in the first quarter of 2017. As one of the world’s biggest producers, India’s 2016-17 grains yield reached 136.2 million tonnes, according to the International Grains Council, up from 124.6 million the year before.
Sanjeev Dutta, Executive Director, Commodities, DMCC, said, “We are committed to developing and leveraging new marketplaces and sectors, and this Memorandum with Cropdata Technology is a natural step in that journey.”