Auctions are the most efficient means for price discovery to maximize profitability. Auctions to buy and sell large volumes of agricultural commodities are widely prevalent in diverse regions of the world and are an important part of the agricultural supply chain. Commodity trading through auction ensures that the farmers get the benefits without being dependent on middlemen.
Countries like Ethiopia, Uganda and Tanzania for Coffee, Ivory Coast & Ghana for cocoa and Sri Lanka and India for Tea are a few examples. In an effort to increase efficiency, commodity auctions have been experimenting with online formats in recent years. Such online auctions have generated significant interest in the trade press because of their potential to generate higher commodity prices for producers, reduce unfair trading practices by middlemen, and bridge the digital divide.
CSM’s Online Commodity Trading System is a one stop solution catering to spot markets where production is completed & delivery is immediate. The automation provides access to market and fair price discovery of quality produce, encouraging the local supply chain expand to global market. The system caters to the complete trade cycle, from membership & catalogue management, auction automation, business management to market analytics & insights.