Reliance Money and NMCE plan agriculture spot exchange

Gujarat Niyantrit Bazar Sangh, the apex body of more than 200 mandis in Gujarat, is a co-promoter of National APMC. National APMC has also received approval from the government of Rajasthan to electronically integrate the agricultural mandis there.

8220;Electronic spot trading will provide better prices, transparent trading, guaranteed trades, better warehousing and logistics and lower marketing costs for farmers, traders and consumers,8221; said Reliance Money CEO, Sudip Bandyopadhyay, who had joined the board of NMCE last month.

There are two other spot exchanges in the country promoted by the National Commodity and Derivatives Exchange NCDEX and the Multi-Commodity Exchange MCX. NCDEX Spot Exchange Ltd launched spot trading in December 2007, while MCX8217;s National Spot Exchange plans to start operations this month.

The National APMC will provide on-line price dissemination and an efficient warehouse-based delivery system, which will complement the existing efforts in the supply chain management of perishable commodities and reduce wastage. Being a neutral integrated platform, the exchange would benefit not only individual producers, but also farmer associations, co-operatives, corporate houses and other stakeholders, NMCE said.

8226; Electronic spot trading will provide better prices, transparent trading, guaranteed trades and better warehousing

8226; The exchange will benefit not only individual producers, but also farmer associations, co-operatives and corporates

8226; NCDEX Spot Exchange Ltd launched spot trading in December 2007, while MCX8217;s National Spot Exchange plans to start it this month