NCDEX Spot Exchange (NSPOT), a spot trading arm of the country’s largest agri commodities futures trading platform, National Commodity and Derivatives Exchange (NCDEX), is all set to launch online spot trading in Rajasthan soon.
The exchange has already got permission from the state government to launch spot trading in rapeseed/mustardseed, chana and guarseed in the state.
NSPOT is at present active in the state by way of cess paid contracts of chana and rapeseed/mustardseed. This permission would enable NSPOT to expand its operations to farmers segment in the state.
With this, the exchange has secured permission to set up Spot exchanges in the states of Gujarat, Karnataka, Maharashtra, Haryana, Bihar, Rajasthan and Kerala. It also has APMC cess paid contracts in Madhya Pradesh.
With NSPOT already in partnership with Shri Shubham Logistics, a company having modern warehouses across various production and consumption centers in Rajasthan, this license would pave way for the new exchange to provide benefits of modern warehouses to the farmers of Rajasthan.
Commenting on the move, Rajesh Sinha, Head, NSPOT said, “The farmers, traders and commodity brokers (producers) of Rajasthan and the state government corporations having interest in agri-commodities would now have access to the modern ecosystem for commodity trading pioneered by NCDEX and NSPOT. These players (producers) are expected to get better realisation through enhanced efficiencies in the market.”
NSPOT is working actively with various state governments including the Rajasthan government for its mandi modernisation project (MMP).
NSPOT aims to redefine the value chain in over-the-counter markets and make them more efficient so as to benefit the entire value chain.