Online potato trading to start in W Bengal from next month

Kolkata, Aug 21 (UNI) Potato trading will go online in West Bengal through Multi Commodity of India LImited (MCX), a centre recognised body, from September 1.

State Agriculture Minister Naren De said, '' The online sale of potatoes will start from September 1 through Multi Commodity Exchange of India Limited (MCX), which is an independent body and 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 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.

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 the 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 hrs.

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 potatoes in the cold storages registered by the Centre and take delivery when required.

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

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