SNX to start spot horticulture trade soon
Safal National Exchange (SNX) is a spot market platform jointly created by Mother Dairy Foods Processing (a group company of National Dairy Development Board) and Multi Commodity Exchange (MCX).
By Arun Iyer, TNN |
BANGALORE: Safal National Exchange (SNX), the spot market platform jointly created by Mother Dairy Foods Processing (a group company of National Dairy Development Board) and Multi Commodity Exchange (MCX), expects to launch its nationwide platform for dealing in horticulture products soon.
"We expect to launch spot market-related information in products like apples, banana, sweet orange, potato and onion within the next two to three months,” said SNX CEO Ravishankar Natrajan.
Mr Natrajan said the experience from the launch of the pilot trading operation in Totapuri mango during the May-June season covering farmers in Andhra Pradesh, Karnataka and Tamil Nadu helped SNX prepare for the launch of additional products. He said the exchange has commenced membership drive and was looking at providing coverage in a minimum of three to four districts in each state.
The membership drive is on till the middle of the next month and is available for three categories: farmer associations/self-help groups, government agencies/ agri-marketing boards and those who don’t fall in either of these two categories.
Mr Natrajan said the exchange would be functional from 10 a.m. to 4 p.m. and delivery would happen on a T+1 basis.
"Delivery of products would take place once the payment is received and we would ensure that the quality is assured after the localised quality certifiers issue certificates to this effect,” Mr Natrajan added.
"We expect to launch spot market-related information in products like apples, banana, sweet orange, potato and onion within the next two to three months,” said SNX CEO Ravishankar Natrajan.
Mr Natrajan said the experience from the launch of the pilot trading operation in Totapuri mango during the May-June season covering farmers in Andhra Pradesh, Karnataka and Tamil Nadu helped SNX prepare for the launch of additional products. He said the exchange has commenced membership drive and was looking at providing coverage in a minimum of three to four districts in each state.
The membership drive is on till the middle of the next month and is available for three categories: farmer associations/self-help groups, government agencies/ agri-marketing boards and those who don’t fall in either of these two categories.
Mr Natrajan said the exchange would be functional from 10 a.m. to 4 p.m. and delivery would happen on a T+1 basis.
"Delivery of products would take place once the payment is received and we would ensure that the quality is assured after the localised quality certifiers issue certificates to this effect,” Mr Natrajan added.
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