Flower auction centre to see e-auction clock

The International Flower Auction Bangalore Ltd (IFAB Ltd) at Hebbal will shortly install electronic digital auction clock at its auction centre. The auction clock works on diminishing rates and buyers can choose and stop the clock at the rate desired.

IFAB, a public-private partnership with government and floriculture industry, has floated a tender involving both technical and financial bids to install the clock. The IFAB has also begun mobilising funds for other infrastructure relating to the project.

"A sum of Rs 1.75 crore has been promised under the Accelerated State Infrastructure Development for Exports (ASIDE) scheme. When this clock is installed, it will facilitate the direct grower-buyer interaction, hence improving price realisation for growers," said R D Reddy of Meghana Floritech.

"In an effort to promote IFAB as a hub for international flower auction, we need to create such infrastructure and it may take 6 months to 8 months for full scale operations," he added.

According to Dr K V Sarvesh, managing director, IFAB Limited, "We are looking at modernising the International Flower Auction Centre, Bangalore and help reduce time as the present manual auction is taking a lot of time. Along with the auction clock, tender is being called to install application software and gallery furniture for auction complex. Tender bids are to be opened and announced on March 27."

Presently, about 40 large growers and numerous small growers are participating at daily flower auctions. The International Flower Auction Centre, Bangalore at present can accommodate over 100 bidders and has been built on 5.11 acres given by the state government as its share to the IFAB Ltd.

IFAB is operated and controlled by the growers led by the South India Floriculture Association (SIFA) and backed by key government agencies like the Agro Processing Export Development Association (APEDA) and Karnataka Agro Industries Corporation (KAIC).

SIFA has a 51 per cent stake in IFAB, while the small growers hold 16 per cent and the balance is held by the state government agencies (KAIC and Kappec). The flower auction centre has been built at a cost of Rs 10 crore.

APEDA's contribution is Rs 3.57 crore, Government of Karnataka's Rs 6.12 crore and the balance has been raised under the ASIDE scheme, of which Rs 73 lakh has been released for creating the necessary infrastructure and other flower handling equipment required at the auctions, including logistics support.