Indian Sugar Exim Corporation Limited (ISEC), a premier sugar exporter of India, was formed in 1969 by the two apex bodies of the sugar industry viz. the National Federation of Cooperative Sugar Factories Ltd (NFCSF), and the Indian Sugar Mills Association (ISMA), representing factories in the cooperative and private sectors respectively.
NCDEX e Markets Limited (formerly known as NCDEX Spot Exchange Ltd) is the leading National Spot Exchange in India. It works with domain experts and offers trading platforms for trading in a host of commodities, both agricultural and non-agricultural to various market participants, primary producers including farmers, traders, processors etc. These trading platforms combine technological efficiency and market friendly trading features in a transparent atmosphere to make trading a rich and rewarding experience.
ISEC and NeML have jointly developed an “Indian Sugar e Market (ISeM)’’ to cater to the need of an efficient, transparent, online, real time trading platform for sugar and allied products. The benefit of the Indian Sugar e Market would be improved price realization, access to buyer/seller nationally and reduced number of intermediaries.
The eMarket would offer its services to all sugar factories in India. Government procurement agencies and private consumers within the country can also be catered to by the Indian Sugar eMarket. Apart from making the sugar market efficient, this is in line with the vision of the Hon’ble Prime Minister of India in promoting a ‘’Digital India’’ initiative. Based on the regulatory outlook, associated by-products like molasses, ethanol, ethyl alcohol, methyl alcohol etc. may be brought within the ambit of the sugar e Market.