Agri-cooperative major Nafed will launch its own e-auction portal, Nafex.in, for agricultural commodities on January 19, aiming to reduce dependence on private platforms, media reports say.
Developed in collaboration with Deloitte, the portal may also be opened to state-level cooperative federations and agencies for conducting e-auctions.
Currently, Nafed and NCCF sell about 5.3 million tonnes of pulses and oilseeds annually through private platforms such as mjunction, NeML and E-Teach, which charge transaction fees.
The new portal is expected to enhance transparency, efficiency and cost savings in commodity trading.