Up to date: Dec 11, 2020 15:11 IST
Mumbai (Maharashtra) [India], December 11 (ANI): BSE (earlier often called Bombay Inventory Change) has launched an electronic spot platform for agricultural commodities by way of its subsidiary BSE Investments Ltd.
BSE E-Agricultural Markets Ltd (BEAM) will perform as a nationwide stage, institutionalised, digital, clear commodity spot buying and selling platform according to the Prime Minister’s imaginative and prescient to create a single market, BSE mentioned in a press release on Friday.
With the assistance of BEAM, farmers in a single state will be capable of attain out to markets in different states and public sale their produce.
This won’t solely assist farmers and farmer collectives uncover finest costs for his or her merchandise primarily based on the standard but in addition provides to construct capability to assist intermediaries, processors and exporters procure from states.
The platform facilitates spot agricultural commodities transactions throughout worth chain consisting of producers, intermediaries, ancillary companies and customers, mentioned BSE.
“Entry to the regulated and clear market, direct entry to a number of patrons, receipt of money immediately into the account of beneficiary and discount in intermediate prices are among the main advantages of the platform,” mentioned BSE’s Managing Director and CEO Ashishkumar Chauhan.
BEAM has leveraged on trendy expertise to supply customised options to farmers, merchants, and stakeholders to facilitate risk-free and hassle-free buy and sale of varied agri commodities.
BSE mentioned the platform will guarantee reduced cost of intermediation, improved procurement efficiency, enhanced producers’ realisation and extra aggressive shopper costs. The platform can even assist eliminate bottlenecks related to procurement and buying and selling. (ANI)