NAFED to launch platform for online auction of pulses.

National Agricultural Marketing Federation of India launch an online platform later this month to dispose the huge stocks of pulses piled up from last year kharif season. The pulses were procured by the government for creation of buffer stocks. Registered traders can purchase and sell various agricultural commodities including pulses by bidding for the prices through an open auction system. Department of Consumer Affairs set the base price for the auction of pulses procured for buffer stocks through the portal, and the government not charge any transaction fees on it. For all other commodities, traders have to take part in an open auction and transaction charges levied on them.