BEAM has leveraged state-of-the-art technology to offer customized solutions to farmers, traders, and stakeholders
BSE, India’s premier and most diversified exchange and the world’s fastest Stock Exchange has launched an electronic spot platform for agricultural commodities – “BSE E-Agricultural Markets Ltd. (BEAM)” – through its subsidiary BSE Investments Ltd. This platform will function as a national level, institutionalized, electronic, transparent commodity spot trading platform in line with the Prime Minister’s vision to create a “single market”. The platform facilitates spot agricultural commodities transactions across the value chain consisting of producers, intermediaries, ancillary services, and consumers. The platform will commence beta operations effective from December 11, 2020.
BEAM has leveraged state-of-the-art technology to offer customized 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’ realization, and more competitive consumer prices. The platform will also help eliminate bottlenecks associated with procurement and trading.
Ashishkumar Chauhan, MD & CEO of BSE, said, “BSE plans to leverage its nation-wide distribution network and state-of-the-art technology to provide a world-class framework for agriculture commodities to the benefit of the farmers and the Indian economy. Access to the regulated and transparent marketplace, direct access to multiple buyers, receipt of cash directly into the account of beneficiary, and reduction in intermediate costs are some of the major benefits of our platform.”
