Govt starts selling wheat in open market via NSPOT

Jan 28 2014, 01:07 IST
Comments 0
SummaryThe first of the e-auction of wheat was successfully carried out on January 25...

The Centre has started selling wheat in the open market using the electronic spot trading platform of commodity bourse NCDEX. State-run Food Corporation of India (FCI) had recently entered into an agreement with NCDEX Spot Exchange (NSPOT) to sell wheat in the open market. "The first of the e-auction of wheat was successfully carried out on January 25, 2014 in Delhi and Hyderabad," NSPOT said in a statement.

This would gradually expand to include other commodities pan-India, it added. Under the agreement, NSPOT said all the regional centers of FCI would use e-auction trading platform and cease to float paper/physical tender as was done earlier.

Ads by Google

More from Commodities

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...