BSE launches e-agricultural spot market platform

The Bombay Stock Exchange (BSE)  has launched an electronic spot platform for agricultural commodities. The platform named  
BSE e-Agricultural Markets Ltd (BEAM) will function as a national level, institutionalized, electronic, transparent commodity spot trading platform. This would be in line with the Prime Minister’s vision to create a ‘single market’, the exchange said in a statement.

Additionally, the platform would facilitate transactions in spot agricultural commodities across value chains consisting of producers, intermediaries, ancillary services and consumers.

BEAM would offer customised solutions to farmers, traders and stakeholders to facilitate risk-free and hassle-free purchase and sale of various
agricultural commodities. Ac cording to the exchange, the platform will ensure reduced cost of intermediation; improve procurement efficiency, enhanced producers’ realisation and more competitive consumer prices. It will also help eliminate bottlenecks associated with procurement and trading.

The platform commenced its beta operations from December 11.