Comments
Post-harvest management company National Collateral Management Services Limited (NCML) said on Wednesday that it has achieved over 10,000 tonnes auction quantity under its Surakshit Mandi project for which the value of the commodity is more than ₹10 crore.
NCML had initiated the programme during the lockdown to help farmers in selling their crops through its warehouses. Surakshit Mandi provides a direct platform to farmers to get the right price, timely and affordable credit and has also ensured a safe and easy transaction. It uses the latest RBI-approved escrow accounts, provides an e-wallets payment gateway, the company said in a statement.
Electronic platform
“Most of the farmers only brought crops that were not under government procurement. We ensured that when a farmer brings their produce, we suitably assay, grade, and list it for e-auction on the electronic platform — Mktyard.com. Arrangements were made to issue e-tokens in advance and all Covid-19 related protocols are observed. Farmers’ acceptance was taken basis the bids received online, and the money was deposited into their account on the very same day” said Siraj Chaudhry, MD and CEO, NCML .
NCML’s MktYard.com has a pan-India presence with over 5,000 traders and processors, 100 FPO’s trading across all commodities and has pioneered products such as pledge sale and order matching. NCML started the ‘Surakshit Mandi’ operations in Rajasthan and Odisha and has now taken it to Andhra Pradesh and Gujarat.
NCML has successfully conducted over 8,000 e-auctions worth more than ₹1,000 crore for various government organisations such as Marketing Federations, civil supply corporations, and seed corporations across Madhya Pradesh, Rajasthan, Andhra Pradesh, Telangana, and Gujarat. Further, e-auctions have also been conducted for more than 10 national banks and signed agreements with eight of them as the first-choice auction service provider. The company has also conducted auctions for MMTC and Nafed (onions) as well.
Rabi procurement
NCML aims to focus on wheat and maize for the upcoming Rabi season and will cover Bihar, Uttar Pradesh, Rajasthan and Madhya Pradesh as they are the major wheat-producing States. To make the process more accessible, the company has its android-based farmer e-procurement app, using which it has procured paddy and maize worth ₹550 crore in Uttar Pradesh, Jharkhand, and Bihar.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.