The union commerce ministry is betting big on electronic auctions (e-auctions) to provide a pricing-based information platform for growers, notably in the spices sector. Having launched e-auctions for tea, the ministry now hopes to take e-auction for cardamom national and make it available at all the 15 centres where the product is traded.

Speaking at the relaunch of the coffee futures trading platform of the National Commodity & Derivative Exchange (NCDEX) here recently, 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.

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Posted: 09|12|07 at 9:48 pm. Filed under: Auction News.