With the expansion of some some other commodities like steel and copper, the platform targets to increase its turnover to over Rs 600 crore this fiscal.
Tradologie, an electronic trading platform for B2B transactions, plans to expand its agri portfolio by including maize and onion, prices of which are currently at very high level from a year-ago. With the expansion of some some other commodities like steel and copper, the platform targets to increase its turnover to over Rs 600 crore this fiscal.
“There is a significant growth in registration of traders in last four years since the platform was launched,” said J K Arora, CEO of Tradologie. He claimed that the platform has some 45,000 traders including 5,000 sellers. The company’s turnover was Rs 239 crore in FY19 and it clocked a business of Rs 287 crore in April-September of this fiscal, Arora said.
Average prices of maize in mandis were Rs 1,842/quintal in October, 40% up from a year ago while retail prices of onion are hovering around Rs 60/kg in Delhi, India’s largest wholesale trading hub for the edible bulb. The platform arranges auction of product in lots by bringing sellers to a buyer on a pre-decided time slot where the buyer can see the details of sellers but it does not allow the same for the latter.
Arora said there is no default on delivery, so far as only end-users participate.