The West Bengal Government (WB), India is planning to launch electronic trading (e-Trading) of fruits in order to give good returns for the farmers of the state.
The state government is talking with Bangalore-based (Karnataka) online spot exchange, Safal National Exchange (SNX) to work on this project. Mother Dairy Foods Processing, MCX and Financial Technologies have joined together to start the online spot-exchange. The government is planning to put the system in place by the end of 2007. According to Sanjeev Chopra, Secretary of the State Food Processing Industries and Horticulture, with the e-Auction system, farmers would be able to lock in the price of the produce and sell it without physically transporting it to the mandis.
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