New Delhi, September 23, 2015: India’s leading warehousing and collateral management firm, Origo Commodities India Pvt. Ltd. has tied up with India’s No. 1 commodity exchange, Multi Commodity Exchange of India Ltd. (MCX) to manage physical delivery services of various agricultural products for the exchange.
The Commodity Exchange has partnered with Origo Commodities as the company has a pan-India presence with a wide network of warehouses under its management.
Origo’s leadership and expertise has helped it to successfully manage the food grain stock of FCI through its nodal agency PUNGRAIN, in Punjab, for capacity of over 27 Lac MT, which represents almost 5% of total MSP procurement of food grains (Wheat and Rice) by FCI across the country. Origo currently manages 35 lakh tonne of agricultural produce across 15 states in 500 warehouses with total assets under management worth Rs. 8,500 crore. Origo’s quality testing laboratories are accredited by NABL.
“We are happy to tie up with premier commodity exchange – MCX to manage the delivery services of various agri products for the exchange. This tie-up will provide a platform to farmers and others for selling their produce directly on the exchange,” said Mayank Dhanuka, Director of Origo Commodities.
This tie up will facilitate a fair, transparent and warehouse delivery based price discovery platform for agriculture commodities like cotton, cardamom, mentha oil and caster seeds. Farmers can schedule their sales at best price times using MCX price discovery and delivery platform and can get opportunity to realise better prices of their farm produce.
Origo Commodities is a complete post-harvest management solution provider, as well as an implementation agency mandated by NABARD to promote Negotiable Warehouse Receipts (NWR) at farmers’ level through Primary Agricultural Cooperative Societies (PACs) and co-operative banks.
About Origo Commodities
Origo Commodities India Private Limited is the leading post-harvest solutions and warehouse management services company in India. It currently operates over 350 warehouses and has over 3.5 million tonnes of commodities with value of $1.5 billion under management. Its services include commodity handling, collateral management and procurement services to farmers, producers, processors and corporate houses. With its network, Origo Commodities is able to service farming community in 15 states in India.
For more information visit www.origoindia.com
About MCX
Having commenced operations on November 10, 2003, Multi Commodity Exchange of India Limited (MCX) is India’s first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India. MCX offers the benefits of fair price discovery and price risk management to the Indian commodity market ecosystem. Various commodities across segments are traded on MCX. These include bullion, energy, metals and agri commodities. The exchange has forged strategic alliances with various international exchanges, as well as Indian and international trade associations. For more information about MCX and its products visit www.mcxindia.com