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Our Bureau

Mumbai , Oct. 10

NATIONAL Spot Exchange for Agriculture Produce (NSEAP) and Multi Commodity Exchange of India Ltd (MCX), on Monday, launched the first ever "Commodity Suchna Kendra" (commodity information Centre) in Sirsa market, Haryana.

The kendra is a knowledge centre of spot and futures commodities market price and information on various products. Disseminating reference national-spot prices on a real-time basis and will serve as an instrument for common price discovery.

The AMPC at Sirsa, Haryana, is the first agro-commodity market to go live with the electronic price and information dissemination system in Northern India, an exchange release said.

The Haryana Chief Minister, Mr Bhupinder Singh Hooda, Chief Guest for the occasion, said: "This is a unique initiative to create a nation-wide awareness for enabling buyers and sellers to trade agriculture commodities. Electronically networking the producers & consumers of agriculture commodities will help in creating a common nationwide market. In the long run, it will enable and empower the farmers to sell their produce at better rates and directly use the intermediary network of NSEAP."

The Commodity Suchna Kendra will display not only the spot and futures commodity prices but also India's first composite Commodity Futures Index — MCX-COMDEX — computed & displayed on a real-time basis.

Says Mr Jignesh Shah, Managing Director & CEO, MCX, "Linking all APMCs will lead to the development of a competitive, and efficient agro-marketing chain in Haryana and subsequently, across India. NSEAP will enable agro-based industries procure agriculture produce at cheaper cost with complete assurance using the support infrastructure of NSEAP. This network will ultimately create a robust common Indian market."

NSEAP plans to set up Commodity Suchna Kendras at all APMC markets which, over time, will link all agriculture market players. It will also help in linking the support infrastructure from a single point access, thus benefiting farmers, traders, consumers and other end-users of commodities, the release said.

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