Food Processing Minister Harsimrat Kaur Badal on Wednesday launched a portal that will forecast wholesale prices of three key vegetables - tomato, onion and potato - for three months and alert the government to take timely intervention in case of price crash due to glut.
Alerts from the portal will help the government take timely market intervention under the central scheme ''Operation Greens'' by providing subsidy to farmers for storage and transportation of the produce from surplus markets to consuming market, she said.
The alerts will be triggered when prices of these three perishable commodities fall to a three-year low levels at the time of harvest or when the price fall is more than 50 per cent from the year ago or when the fall in rates is lower than the benchmark fixed by Centre/state government for a specified period, she added.
The web portal called Market Intelligence and Early Warning System (MIEWS), developed by cooperative Nafed, has been done under the scheme for integrated development of tomato, onion and potato (TOP) value chain.
As reported on outlookindia.com, the portal will show prices of both producing and consuming centres. The portal has been designed to provide advisories to farmers to avoid cyclical production as well as an early warning in situations of glut for policy makers.