Centre puts e-auction in spices on fast track

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The Indian Commerce Ministry is promoting electronic auctions to provide a pricing-based information platform for growers, especially in the spices sector.

After launching the e-Auction for tea, the Ministry is planning to launch e-Auction for cardamom nationwide and make it available at all the 15 centres, where product is traded. While speaking at the launch of the coffee futures trading platform of the National Commodity & Derivative Exchange (NCDEX), the Union Minister of state for commerce Jairam Ramesh, said the NCDEX was working to launch an electronic spot exchange for coffee with the Coffee Board. The e-Auction of cardamom launched at Bodinayakanur will now go national. These models of trading will help to provide market-related information for growers.

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