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The National Commodity & Derivatives Exchange Limited (NCDEX) and the NBHC, (National Bulk Handling Corporation) have joined hands to offer warehousing and value added services pan India.
The agreement will help members and clients of NCDEX to get access to accredited warehouses of NBHC across the country.
This will also help them get access to other comprehensive services such as storage, quality testing & certification, collateral management services and procurement services, a statement issued here said.
NCDEX is largest Agri-commodity futures exchange and NBHC is leading warehousing, commodity and collateral management service provider.
The agreement represents NCDEX’s confidence in NBHC’s expertise of managing around Rs 6,500 crore of agri commodities on an average through its owned, leased, franchisee and accredited warehouses pan India.
NBHC has expertise in managing over 190 commodities which include grains and other cash crops such as cotton and various non-agri commodities.
It has a pan-India network of around 1,450 warehouses across 17 states and about 1.50 million metric tonnes of warehousing capacity and over 50 facilities Pan India for quality testing and pest management services.
NBHC caters to customers ranging from farmers, processor, traders, domestic & international corporates, commodity exchanges as well as 44 banks.
“Through this move we will be able to add immense value to the entire commodity eco system and also to our business. Many of our valued and long term clients wanted us to partner with NCDEX. A part of their business, at times significant, was going past us as we were not accredited with NCDEX. We believe that we have now made a make a big headway in our business due to this association” NBHC MD and CEO, Anil Choudhary said.
“We believe that the tie up will help in the holistic development of the marketing and post-harvest management of agri commodities,” NCDEX MD and CEO, Samir Shah said.
Agri warehousing accounts for 15 per cent of the warehousing market in India and has been growing at a rate of 12 per cent over the last 3 years.
Agri warehousing capacity in India is estimated at 110 million metric tonnes (MT), and it has been growing at a CAGR of 10 per cent over the last 5 years.
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