Rashtriya e-Market Services is a novel unified market program (UMP) launched by the Karnataka govt, and is a joint venture between it and the NCDEX Spot Exchange.
It will enable the smallest farmers an access to a wider market and reap the benefits from the transparent system.
The UMP will provide an electronic auction system across the state for transparent price determination. It will offer quality-based trading in Agricultural Produce Marketing Committees (APMCs) and online access to all APMC market functionaries. Participation would be open to all with unified market licences from the state government.
With this, farmers can choose to sell in any regulated or private market in the state and get timely online payments.
The UMP will also provide additional services, including assaying and grading, along with facilitating pledge loans to farmers.