NCDEX e-Markets Limited (NeML, Formerly NCDEX Spot Exchange-NSPOT) is the leading Indian electronic web based, online, commodities spot market and services company. It combines best features of financial markets and spot markets.
Incorporated in October 18 2006, NeML is a wholly owned subsidiary of NCDEX (majority owned by LIC, NABARD, IFFCO, PNB, Canara Bank, NSE). NCDEX is India's largest Agricultural commodity exchange with more than 90% market share.
With a national presence, the company has pioneered breakthrough initiatives like Mandi Modernization Program (MMP), e-Pledge, and e-marketing.
NeML works closely with its ecosystem partners to create efficient commodity markets its market and services. E-marketing facilitates buyers and sellers enhance their buying and selling efficiencies leveraging its trading platform. The company helps in financial inclusion by facilitating credit to smallholders against commodities stored in NeML and Bank approved warehouses using its unique e-pledge mechanism. In the process NeML helps in leveraging market and in the process help 1. Farmers make more money and 2. Help discerning consumers get supplies on time.
MMP envisions to transform the regulated, fragmented Indian Agricultural markets, popularly known as APMC Markets/ Mandi into a single unified agricultural market leveraging its Unified Market Platform (UMP). It uses "one state one market" as the building block to achieve this vision. Since MMP made a beginning in the state of Karnataka, the model is widely recognized as the "Karnataka model" by various government and government entities. Impressed by the work done, central government has adopted the principles as National Agriculture Market (NAM).
E-pledge helps in Financial Inclusion
To help farmers and processor get easy access to finance NeML has started the electronic pledging of commodities deposited in the market accredited warehouses. NeML acts as facilitator to bring the warehouses, banks and clients under one electronic platform through its COMLIVE® system. In its brief existence commodities worth Rs. 2150 Cr has been financed using e-Pledge with seven banks.
NeML facilitates Farmer Producer Organizations
NeML facilitates FPOs in buying / selling of the farmers' produce using its trading platform. NeML has worked with more than 60 FPOs benefitting more than 28000 farmers in the states of Maharashtra, Gujarat, Rajasthan, Karnataka, Andhra Pradesh and Madhya Pradesh. It works closely with the institutions like Small Farms Agri Business Consortium (SFAC) and Mother Dairy to help FPOs transaction.
NeML enables government meets its social
NeML enables state governments fulfill its food security and price support initiatives leveraging its ecosystems commodity participants, warehouse service providers, assayers and financial institutions.
NeML helps other central governmental organizations such as Food Corporation of India (FCI), NAFED, SFAC, PEC and MMTC procure and sale agri-commodities under various food security programs.
NeML THROUGH THE YEARS