Emboldened by the encouraging response to its ‘Surakshit Mandi’ service in the first year, Gurgaon-headquartered National Collateral Management Services (NCML) has planned to significantly expand this service and take it to more states in the current fiscal.
‘Surakshit Mandi’ service launched last year just at the onset of Coronavirus and imposition of the national lockdown entailed facilitating farmers to bring their produce directly at selective warehouses (observing health related protocols) of NCML where their output was auctioned electronically through the marketyard platform run by a subsidiary of the firm.
Speaking with indoasiancommodities, Unupom Kausik, President of the firm said the service has received good response from the farmers in the pockets where it was introduced and NCML has now decided to add more warehousing units across the country to its Surakshit Mandi platform.
“In the first year, we have managed to auction 10,000 tonnes of crop valued at Rs 10 crore through our Surakshit Mandi platform. In the current fiscal, as we expand this platform, we expect the volume to rise close to 50,000 tonnes and value in the vicinity of Rs 100 crore as we would cover more crops this rabi season including wheat, maize, bajra, barley and mustard,” Kaushik said.
The Surakshit Mandi platform was initiated at a low-key basis at the beginning of the last fiscal (coinciding with the Covid-led lockdown) implemented first in NCML’s two warehouses in Rajasthan – Sri Ganganagar and Kota. During the course of the year, more warehouses were added in the state and some storage units in Odisha and Bihar were also made part of the programme.
“Last year, we managed to bring 12-15 warehousing units under this project. This year our target is 50 units with the project being expanded to new states apart from the existing ones. This includes Madhya Pradesh, Andhra, Telangana, Uttar Pradesh and also Haryana,” he added.
NCML, a leading private firm specialising in post-harvest management in the country, currently has an expansive warehousing profile of 715 units across 14 states in the country with cumulative aggregation capacity of 1.8 million tonnes. It is controlled by Fairfax India, a group company of Canada-based Fairfax Financial Holdings led by renowned global investor and entrepreneur Prem Watsa.