Chairman’s Message

CMA Chittaranjan Chattopadhyay
Chairman
Agriculture Cost Management Board
The Institute of Cost Accountants of India

 

Dear Friends,

As we all know, the Indian economy is deeply rooted in agriculture. However, this agro-economy faces significant challenges, including dependence on production, distribution, and consumption cycles, as well as productivity issues. Despite these challenges, agriculture and its allied sectors remain the primary source of livelihood for millions of Indians, particularly in rural areas, and contribute substantially to our nation's Gross Domestic Product (GDP).

Agricultural development is a powerful tool for eradicating extreme poverty, promoting shared prosperity, and feeding a growing global population projected to reach 9.7 billion by 2050. Research shows that growth in agriculture is two to four times more effective in raising incomes among the poorest than other sectors. Moreover, agriculture has the potential to reduce poverty, increase incomes, and ensure food security for 80% of the world's poor, who reside in rural areas and work primarily in farming.

Effective Agriculture Cost Management is crucial for enhancing the competitiveness and sustainability of the agricultural sector. It involves identifying and mitigating risks, optimizing resource allocation, and improving supply chain efficiency. By adopting best practices in cost management, farmers and agricultural enterprises can:

  • Reduce input costs and enhance productivity
  • Improve crop yields and quality
  • Enhance market access and negotiate better prices
  • Develop resilient and adaptive farming systems
  • Promote sustainable agricultural practices

The Agriculture Cost Management Board (ACMB) is committed to promoting best practices in cost management and providing guidance to stakeholders in the agricultural sector. Our key focus areas include:

  • Revenue Management & Cost Control
  • Cost Benefit Analysis
  • Agricultural Supply Chain Development
  • Inventory Management
  • Capacity Building
  • FPO Management
  • Networking with public and private institutions engaged in research, academics, commerce, and business
  • Enhancing awareness on cost and returns optimization and risk minimization throughout agricultural value chains

Additionally, we aim to:

  • Develop and disseminate cost management tools and techniques tailored to Indian agriculture
  • Conduct research and analysis on emerging trends and challenges in agricultural cost management
  • Provide training and capacity-building programs for farmers, agricultural professionals, and stakeholders
  • Facilitate collaboration and knowledge sharing among stakeholders to promote best practices

We are moving forward with a diligent action plan to achieve our targets and make a meaningful impact on the agricultural sector.