• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

R. Balaji

Chennai, Dec. 6 Safal National Exchange of India Ltd (SNX), the electronic platform for trading in fruits and vegetables, plans to launch trading from December 14.

According to Mr A. Chandrasekhar, Chief General Manager, Market Operations, SNX has enrolled over 2.5 lakh members on the exchange apart from over 180 farmers associations each with a membership of a few hundred farmers. Also, some of the leading retail chains including Reliance and Heritage have evinced interest and are members in the exchange. The exchange is for spot trading in horticulture produce with physical delivery taking place in less than 11 days. The exchange only provides the electronic facilities and does not involve in trading.

Addressing a conference on commodity markets organised by the Confederation of Indian Industry, he said SNX planned to launch the online trading from December 14 with produce like “kinnoo” – a variety of orange used for processing and is grown in Rajasthan and Haryana – and tomato. This would be followed up with onions and cold- stored apples, and by March next year it hopes to facilitate trading in a 20 fruits and vegetables produce with 100 contract specifications.

SNX’s electronic platform would be available across the country. With NDDB exempted from the Agriculture Produce Marketing Committee Act in Maharashtra, Karnataka and Andhra Pradesh, SNX would also get the benefit of this exemption. In States such as Tamil Nadu and Kerala the Act has not been implemented.

On the advantages of the electronic trading, he said it would be a transparent process that would help more efficient price discovery, the quality of the product is assured with detailed contract specifications available and the exchange ensuring compliance to the standards and the delivery.

More Stories on : Horticulture/Fruits & Vegetables | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
United Bank of India’s new scheme

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line