BANKING TRADE AND COMMERCE

REGULATED MARKETS

The Central Provinces and Berar Agricultural Produce Markets Act, 1935 and the Madhya Pradesh Agricultural Produce Markets (Amendment) Act, 1954, regulate the marketing of agricultural commodities, viz., wheat, jowar, groundnut, lit, etc. The large cotton trade in this tract has necessitated separate legislation for its control. The Central Provinces Cotton Market Act, IX of 1932, as amended in 1937 and the Berar Cotton Rules of 1942, regulate the cotton trade in the district. All the transactions pertaining to the sale and purchase of commodities brought under the regulation are effected in the market-yard under the supervision of the respective Market Committees authorised for that purpose. No person can buy or sell agricultural produce within the market-yard unless registered as a trader; however, a grower may sell his own agricultural produce. Cotton traders have to register their names by paying the prescribed fees which vary for first class and second class markets. The Market Committee by issuing licences authorises some brokers or adtyas to carry business transactions on commission basis. The adtya in consideration of an adat or commission, makes purchases or sales for others. The sale is usually by open auction. The adtya calls the prospective buyers and if the highest bid is acceptable to the producer, the auction is complete. The auctioned commodity is weighed by licensed weighmen and the seller is given the price of his produce after deducting authorised and standardised commission charges of the adtya, weighmen, hamal and the Committee. The Committee  fixes the rates of commission and other market charges. The buyers and sellers are constantly kept informed about the ruling prices.

The establishment of regulated markets under various Market  Acts, aims at helping the cultivator to get a fair price for his produce and in eliminating the middleman. The main features of such Acts are: regulation of market practices, clear definition of market charges, reduction of excessive charges, licensing of market functionaries, e.g., buyers, brokers and weighmen, use of standard weights and measures, settlement of disputes, appointment of market committees representing growers, traders, local authority and Government, publishing of reliable and up-to-date market information and bringing these markets and market committees under the purview of official control.

Development of Regulated Markets.

Amravati, since long is famous for its large cotton trade. The deep black cotton soil yields a rich crop. Cotton market committees, therefore, came to be established as early as the eighties of the 19th century. The Amravati Cotton Market dates back to 1872. This Market and the Dattapur-Dhamangaon Cotton Market were established under the Hyderabad Residency Orders, for, Amravati together with the other districts of Berar was in the Nizam's Dominion till 1903 when it became a part of the Central Provinces. Subsequently, six more cotton market committees were formed in the district, viz., Amravati, Ellichpur (Achalpur), Dattapur (Dhamangaon), Morshi, Chandur Rly. and Daryapur. Each of these was managed in the initial stage by a small committee appointed by the Commissioner.

There are nine regulated markets in the district, of which six are cotton markets and three grain markets. The former are located at Amravati, Achalpur. Dhamangaon, Warud, Daryapur and Anjangaon Surji, and the latter at Amravari, Dhamangaon and Daryapur.

Amravati Cotton Market.

The Amravati Cotton Market is the biggest and the oldest cotton market in India. It functions under the Central Provinces Cotton Market Act, IX of 1932 and the Berar Cotton Market Rules. 1942. From 1947, it is under the management of the Amravati Taluka Co-operative Agricultural Association. The market area covers the whole of Amravati tahsil. The market-yard situated in the heart of the town extends over 3.642 hectares (nine acres). There are buildings in the yard to accommodate the office, the meeting-room and a reading-room and some rooms for the market functionaries. The Association provides drinking water, water trough for cattle, godowns and laboratory for determining the ginning percentage of cotton. An establishment of a post office along with installation of a radio-set at the yard has facilitated speedy communication. The Association undertakes to disseminate information regarding the prices of various grades of cotton and distributes improved seeds among the cultivators.

The total arrivals at the Amravati Cotton Market Committee in 1961-62 were 500.000 quintals of cotton valued at Rs. 5,00,00,000.

Warud Cotton Market.

The Warud Cotton Market was established in 1933 under the management of the Market Committee, Warud. In 1956, the management was transferred to the Warud Co-operative Agricultural Sale and Purchase Society. The cotton market serves the area comprising the Warud and Pusala Revenue Circles and the eastern portion of the Morshi Revenue Circle bounded by the river Mandu. The market-yard extends over an area of 0.789 hectares (one acre and 38 gunthas). Cotton from the district as well as from the adjacent areas of Nagpur, Betul, Wardha and Chindwara districts is brought for sale. A number of facilities like water, cattle trough, electricity, etc., are provided.

The total arrivals at the Warud Cotton Market in 1961-62 were 70,801 quintals of cotton valued at Rs. 92,74,296.

Daryapur Cotton Market.

The Banosa-Daryapur Cotton Market was established in 1903. It is a second class cotton market. It serves an area lying within a radius of 4.827 km. (three miles) of the market-yard. The following were the functionaries at the market during 1960-61: -

The receipts of the committee during 1960-61 totalled Rs. 6,418.40 and the expenditure Rs. 6,724.66. The market committee owns a spacious building where sales are effected.

Dhamangaon Cotton Market.

The Dhamangaon Cotton Market was established in 1897 under the Hyderabad Cotton and Grain Law, 1897. It now functions under the Central Provinces Cotton Market Act, 1932 and the Berar Cotton Rides, 1942. In 1954 the management of the market area was transferred from the Cotton Market Committee to the Chandur Taluka Purchase and Sale Society. The market covers an area lying within a radius of* 2.414 km. (1½ miles) of the market-yard, including all ginning factories and their premises. Both ginned and unginned cotton is sold in the market. The main varieties transacted are 197/3; L-147; Deshi and Buri. The total turnover during 1960-61 amounted to 17,706 quintals. The following were the functionaries at the market in 1960-61:-

The society undertakes the dissemination of current market prices of various grades of cotton.

The total arrivals at the Dhamangaon Cotton Market in 1961-62. were 92,394 quintals of cotton valued at Rs. 1,11,81,280.

Anjangaon Surji Cotton Market.

The Anjangaon-Surji Cotton Market was established in 1917. It now functions under the Daryapur Taluka Co-operative Purchase and Sale Society. The market covers an area of about 38.85 km" (15 square miles). The varieties of cotton regulated at the market are 197/3; L-147 and Dcshi.

In 1960-61 the market functionaries were 10 traders, two adtyas, 39 petty purchasers and 15 weighmen. The income of the committee in 1960-61 was Rs. 7,315.96 and expenditure Rs. 3,139.71.

In 1961-62, 6,740 quintals of cotton valued at Rs. 79,38,300 arrived at the market-yard.

Achalpur Cotton Market.

The Achalpur Cotton Market started functioning in 1959-60. It covers an area of about 31.079 km² (12 square miles) including two pressing and three ginning factories. The principal market-yard extends over 3.87 hectares (9 acres and 23 gunthas). The management of the market rests with the Achalpur Taluka Sahakari Shetki Kharedi Vikri Samiti, Ltd. The varieties of cotton brought for sale are 6147; 0394; 197/3 and Co. In 1959-60 the market functionaries were 10 traders, three adtyas and nine weighmen. On an average about 150 cart-loads of cotton daily arrive in the market.

Amravati Grain Market.

The Amravati Grain Market was under the Municipal Committee till 1956. Subsequently the management was transferred 10 the Amravati Taluka Co-operative Agricultural Association. The market functions in the premises of the Amravati Cotton Market-yard. It has no arrangements at present for the weighing of grain. During 1959-60 there were 82 traders both big and small, 89 adtyas and 33 weighmen at the Amravati Grain Market. In the same year the receipts of the Grain Market amounted to Rs. 1,46,822.25 and the expenditure Rs. 75,484.03.

The following statement shows the arrivals of agricultural commodities at the Amravati Grain Market in 1961-62:-

Dhamangaon Grain Market.

The Dhamangaon Grain Market was established in 1930. It now functions under the Chandur Taluka Co-operative Purchase and Sale Society, Ltd. This is a second class grain market. The market covers an area of 7.83 hectares (19 acres and 14 gunthas). It is well served by the railway line running adjacent to it. The market committee has an office building. The following functionaries worked at this market in 1960-61: -

The following statement shows the total arrivals of agricultural commodities at the Dhamangaon Grain Market in 1961-62:

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