What is Indian Sugar eMarket ( ISeM )?
Indian Sugar eMarket is an online market to connect buyers and sellers of sugar and allied commodities for spot delivery based transactions on Pan India basis.
What is ISEC?
Indian Sugar Exim Corporation Limited (ISEC) is a joint organization formed by the two apex bodies of the sugar industry viz. Indian Sugar Mills Association (ISMA) and National Federation of Cooperative Sugar Factories Limited (NFCSF) with an objective to promote, coordinate, develop and facilitate the working of sugar industry.
What are the products auctioned on Indian Sugar eMarket?
Presently, auctions of ISS grade S-30 and M-30 sugar is being held on Indian Sugar eMarket.
Why Indian Sugar eMarket is the right place for buying/selling sugar and allied products for my needs?
Indian Sugar eMarket is developed with features such as safe marketplace, reduced time cycle for trade, transparent automated system, auditability, strong technical support, auto bid facility and reduction in transaction cost.
Who is providing technical support for Indian Sugar eMarket?
ISeM with the technical support of NCDEX eMarkets Ltd (NeML), which is a wholly owned subsidiary of NCDEX, having major patronage of Government Institutions, developed Indian Sugar eMarket.
Where can we get detail information of products available for auction?
For details please visit www.indiandugar.in
What delivery timeframes available?
Delivery timeframes of sugar will be provided by seller.
Who are eligible to buy and sell on Indian Sugar eMarket?
Only registered members are allowed to buy and sell on Indian Sugar eMarket.
How do I get started?
For getting registered with the Indian Sugar eMarket either dial +91 11 26263421 – 23 or write to firstname.lastname@example.org
What are Indian Sugar eMarket rules and where do I get them?
Indian Sugar eMarket rules are set of principles governing conduct and procedures for trading on Indian Sugar eMarket. For these rules, please visit www.indiandugar.in
What are Contract Notes?
Indian Sugar eMarket Contract Notes contain details of auction parameters, delivery procedures, etc. for sugar and allied products.
How much security deposit/margin/EMD bidder and seller should deposit before auction?
Security deposit include EMD and advance transaction fees. Security deposit for sugar is 5% of the bid value.
When will Indian Sugar eMarket return Margin/EMD of bidder and seller?
- Unsuccessful Bidders & Sellers
Security deposit of the unsuccessful Bidder(s) and Seller(s), including those whose bid(s) are not accepted due to non-fulfilment/not meeting the conditions attached to the bid(s) shall be returned by ISeM on real time basis using payment gateway.
- Winning Bidders
The winning bidder’s security deposit will be blocked until the seller confirms the buyer’s settlement of fund obligation. The security deposit blocked of the winning bidder will be released after deducting the transaction fees on seller confirmation of buyer payment.
- Successful Sellers
The blocked seller security deposit will be released after deducting transaction fees when the buyer confirms the delivery of commodity to the buyer through Indian Sugar eMarket.
What fees are applicable to bidders and sellers for facilities provided by Indian Sugar eMarket?
For details please visit fee schedule
What is the Auction Round Time?
First bidding round is pre-configured as 30 minutes and subsequent rounds would be for 15 minutes and time period between rounds is 5 minutes. This is applicable for all auctions.
What is Base Price?
Base Price is ex-factory price of product. This is the minimum ex-factory price at which seller is willing to sell. This is the starting price at round 1 of auction. All the prices mentioned on the portal are on ex-factory basis and exclusive of applicable taxes, transportation, etc.
What is Price Tick?
Minimum price increment is Rs.10/- per quintal and maximum 50 ticks will be maintained.
Who can become sellers on Indian Sugar eMarket?
To sell products on Indian Sugar eMarket, sellers need to have the approval of ISeM. Initially only ISeM members can become sellers on Indian Sugar eMarket.
Can seller get information of unsuccessful bidders?
No. Details of unsuccessful bidders are not shared by Indian Sugar eMarket.
What are seller activities on Indian Sugar eMarket?
- Registration with ISeM
- Upload product specification subject to minimum parameters set by ISeM
- Product specification should comply with BIS and FSSAI
- Upload supply agreement containing details of location, taxes, delivery period etc.
- Enter minimum and maximum offered quantity 5 days prior to trade event date after payment of required EMD
- Enter base price 1 day prior to event
- Invoice to winning bidder
- Delivery of goods
What are bidder activities on Indian Sugar eMarket?
Brief bidder activities are mentioned below:
- View product specification of the offered product
- Verify the additional charges such as freight charges, insurance, taxes, etc
- Select lot size
- Bidder have to join from round 1 after payment of required EMD
- When price increase in next round bidder can only maintain or reduce his bid volume
- Enter the bid quantity for each round or auto bid
- Bidder can modify their bids any number of times during round. Only latest bid would be considered
- Test the quality, make payment and take delivery of goods within specified time
Where can a bidder get auction schedule?
A schedule of all the upcoming auctions and events will be posted on the Indian Sugar eMarket five days in advance. For details please visit www.indiandugar.in
What are the payment terms?
Please refer Supply Terms
Can bidder buy from any seller?
Can bidder buy from any seller?
Which party will pay the transportation charges?
The buyer will bear the transportation costs unless otherwise specified.
Can I know the other parties who have participated in the auction?
No, ISeM will not reveal the identity of unsuccessful bidders who have participated in the auction.
What is Market Oversight Committee?
Any dispute or difference in respect of any matter relating to or arising out of the Contract would be first brought to the Market Oversight Committee. If the parties do not agree to the resolution proposed by the Market Oversight Committee, the parties are free to appeal to the Arbitrator appointed by ISEC. The decision of the Arbitrator shall be final and binding on all parties.
Where to contact if we have technical problems during the time of auction?
NCDEX e-Markets Limited
Phone : 022-66473153
Indian Sugar Exim Corporation Limited
Phone : 011-26263421 – 23
Timing : 10:00am to 6:00pm (Excluding holidays)
What is ‘Continuous Market’?
Continuous Market is a feature to facilitate Commodity transactions on any working day other than auction day
Can I transact anytime through Continuous Market?
Yes. Transactions are allowed on any working day (Monday to Friday between 1100 to 1700 hours)