NCDEX e Markets Limited (NeML), India’s leading e-Market Company, has helped sell over 1.71 lac MT of Pulses procured by the Govt. of India in FY 2017 leveraging its e-market platform. NeML’s e-market platform has come in handy in selling the Pulses in open markets and creating space for the new incoming crop in the warehouses that still stores the Pulses procured during last season.
In last one year the market prices of Pulses like Arhar, Urad, Moong, Masur and Chana suddenly shot up forcing the Central Govt. to create a buffer stock of these Pulses to protect consumers from high prices. In the process, the Govt. procured over 18 lakh MT of buffer stock of Pulses from the open markets, which were primarily procured through NAFED, FCI and SFAC. In addition to the Pulse Buffer Scheme, NAFED also procured Pulses under Price Support Scheme (PSS).
Apart from open market sales, the Govt. is disposing off the Pulses to State Govts. and other Government Enterprises with an aim to use them in food safety programs like the Public Distribution System (PDS) and the Mid-day Meal Scheme (MDM), and to Defense and Paramilitary Forces.
As India’s leading e-Market & Services Company, NeML leverages its e-market platform to enhance farmers’ income and help discerning consumers get their entitlements under food safety programs efficiently through its transparent, online, verifiable e-market. With over 7500 registered members, including Processors, Farmers and Traders, NeML’s e-Market platform provides a ready market for Pulses and other Agri Commodities.