BSE has launched an electronic spot platform for agricultural commodities —BSE E-Agricultural Markets (BEAM) —through its subsidiary BSE Investments. This platform will function as a national level, institutionalised, electronic, transparent commodity spot-trading platform to create a “single market”. The platform facilitates spot agricultural commodities transactions across value chain consisting of producers, intermediaries, ancillary services and consumers. The platform commenced beta operations effective from Friday, BSE said on Friday.
BEAM will offer solutions to farmers, traders and stakeholders to facilitate risk-free and hassle-free purchase and sale of various agri commodities. This platform will ensure reduced cost of intermediation, improved procurement efficiency, enhanced producers’ realisation and more competitive consumer prices. The platform will also help eliminate bottlenecks associated with procurement and trading, BSE stated.
With the help of BEAM, farmers in one state would be able to reach out to markets in other states and auction their produce. This will not only help farmers and farmer collectives discover best prices for their produce based on the quality, but also offers to build capacity to help intermediaries, processors and exporters procure from states.
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