Anjani Sinha CEO of National Spot Exchange Ltd (NSEL) has confirmed his organization has struck a deal with Tamil Nadu Cooperative Marketing Federation for doing business online.
The NSEL, he said, would procure onion, potato and ginger through internet. This would get farmers higher price and customers lower price, he claimed.
According to the CEO, the NSEL would gather vegetables from known vegetables producing areas and hand over them to about a score of outlets managed by Triplicane Urban Cooperative Society in Chennai.
The NSEL says it would buy ginger, onions and potatoes from Kerala, Maharashtra and Uttar Pradesh respectively.
The NSEL, is a national level electronic spot exchange promoted by Financial Technologies India Ltd and National Agricultural Co-operative Marketing Federation of India.