Online potato trading to start in Bengal from Sept 1

Kolkata, Aug 21 (UNI) Potato trading will soon go online in West Bengal to save the growers from distress sales.

State Agriculture Minister Naren De told UNI today that the online sale of potatoes would start from September 1 through the Multi Commodity Exchange of India Limited (MCX), an independent multi-commodity exchange, recognised by the Centre.

''About eight million tonnes of potatoes are grown in the state.

But a large part of it gets wasted due to lack of proper preservation facilities,'' the minister pointed out.

''Online trading will not only bring price parity but benefit the farmers and traders. Generally the market is regulated by stockists and traders. Therefore farmers often get poor prices while selling their produces irrespective of the demand,'' he said.

The potatoes would be sold under the brand name of 'Tarakeswar Alu', popularly known as 'Kufri Jyoti', which are procured from Hooghly, Burdwan, Howrah and other districts of the state.

'Kufri Jyoti' has been chosen for online sale as it is produced in the state in abundance.

MCX sources said satellite technology would enable the online facility to reach markets in every village. Trading would be held from Monday to Friday between 0900 to 1500 hours.

MCX would appoint brokers for the online trade. A buyer would have to purchase at least 30 tonnes to be eligible for online trading.

A buyer would be able to store the potatoes in the cold storages registered by the Centre and take delivery when required.

A recent MCX study revealed that there is a huge scope to reach a turnover of Rs 45 billion in potato trade annually.

UNI JYN PL AKP1140