NCML plans five-fold increase in crop auction via ‘Surakshit Mandi’

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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 […]

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BSE launches electronic spot market platform for agri commodities

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The BSE has launched an electronic spot platform for agricultural commodities.The platform, to be known as BSE e-Agricultural Markets Ltd (BEAM), will function on the national level as an institutionalized, electronic, transparent commodity spot trading platform in line with the prime minister’s vision to create a “single market”, the exchange said in a statement. In […]

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RBI says management of surplus foodgrain the biggest challenge for India

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Management of surplus foodgrain in India has become a major challenge, the Reserve Bank of India (RBI) said in its annual report. “India has now reached a stage in which surplus management has become a major challenge… Going forward, shifting the terms of trade in favour of agriculture is the key to sustaining this dynamic […]

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Agri-tech startup launches online warehousing platform A2ZGodaam

Agri-tech startup Arya Collateral launched online platform A2ZGodaam to enable farmers and other value chain stakeholders to easily find agri-warehouses and other post-harvest solutions across the country. A2ZGodaam is a digital extension of Arya’s current business model. The platform is currently in English and the company plans to launch a vernacular website for the benefit […]

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Rising concerns over rotting might push India to offload more pulses in the market

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India, the world’s biggest consumer of lentils, is likely to sell about 1 million tonnes of pulses domestically to avoid its stockpiles rotting in warehouses, as dramatic price swings have become a politically sensitive issue. The government is attempting to sell the reserves in the open market as well as to some states, and considering […]

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India’s NCDEX and BSE to launch two commodity repositories next week

Starting next week, trading in negotiable warehouse receipts, a decade-old idea, will become a reality in India when two repository record-keeping agencies start operations. Agricultural warehousing accounts for 15% of the warehousing market in India and is estimated to be worth Rs 8,500 crore. Agriculture marketers and analysts have been asking for a pan-India digital […]

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New national tax to benefit India’s logistics industry – ICRA

Implementation of the Goods and Services Tax (GST) would favourably benefit various facets of India’s logistics including transportation, freight forwarding, warehousing, contract logistics, container services, and express cargo delivery, amongst others, ratings agency ICRA said in a report. The logistics industry broadly encompasses five segments, namely, transportation (road/ rail/ air/ water freight), warehousing, third party […]

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