Safal National Exchange of India Limited

An electronic spot market


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Karnataka, INDIA
IN India

In development

About the project Edit

NSA India Private Limited is a company engaged in multifaceted activities : Offering Consultancy services on turnkey development of farms, Landscape and Golf Course Irrigation and drainage system design and installation. Company provides platform to the growers to sell their produce through e-enabled market network. It also facilitates exports of Fresh Fruits and Vegetables along with technical training to the farmers and supply of farm inputs to our growers.

In what ways is this project unique and creative? Edit

SNX is the first spot electronic exchange ever in India, or possibly even outside. The vision of "One India One Market" is possible only because of the Internet reach and the ease of software that enables any with basic intelligence to manage trading on SNX.

What is the social value of this project? Edit

Marketing of agriculture produce in the country is riddled with layers resulting in a long chain that lacks transparency. There is also limited option in terms of the buyers with whom a farmer can work through. SNX attempts to get the Farmers to negotiate the price for his produce with as few intermediaries as possible, which is also transparent.SNX offers Power of Exchange technology in combination with the F & V Expertise under a single banner, for the good of producer & consumer, in an electronic spot market
• Empower farmer in price discovery; Growers will have option to conclude price for their produce for saleprior to harvest
• Minimal intermediation- better quality, lower transaction cost
• Narrower price spread: Farmer-Consumer
• Trading terminals all over the country, truly National
• Payments are guaranteed
• Quality certification protocol administered by SNX
• Initially on a handful of crops, finally all F&V items with negative list
• Improvement in post harvest practices for better shelf life and Quality of Grading, Packing & Overall delivery, match with rapidly raising expectations of quality by average urbanite

What is the potential of this project to expand and develop? Edit

Winner of the Manthan Award South Asia 2008, E-Business CATEGORY

The exchange has 250 members, including 150 Self Help Groups and Farmer Associations that connect individual farmers. The exchange has created an opportunity for farmers, even the small ones to get access to national markets.

What was the triggering factor of this project? Edit

An initiative of National Dairy Development Board in collaboration with Multi Commodity Exchange of India (MCX) and Financial Technologies (India) Limited (FTIL). The exchange started operations in December 2007 and offers contracts in mango, onion, potato, tomato, grapes and banana which are being traded.

What is the business model of this project? Edit

Safal National Exchange of India Ltd. (SNX) provides a technology based competitive market place with wide choice to farmers in Marketing of their perishables and other allied produce in a fair and a transparent manner by using modern IT and improved Logistic.
It is a joint venture between Mother Dairy Foods Processing Limites(MDFPL)- a wholly owned subsidiary of National Dairy Development Board of India (NDDB), MCX and Financial Technologies Ltd
• It provides a platform, where seller can sell at the best possible rate, buyers can buy at the most competitive rate and SNX would provide counter party guarantee in respect of all trades
• SNX facilitates provision of services like quality certification, Warehousing and Logistics and other customized value added services

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