Origo Commodities launches digital auction platform for farmers

Agri-fintech startup Origo Commodities on Thursday announced the launch of an e-auction platform that will allow seamless trading of commodities. The digital platform offers options such as price discovery, price risk, trade settlement, forward and reverse auction, etc. -- which is the current need of farmers, traders, and processors, it said in a statement.

Origo's e-auction platform will allow all participants to register digitally from their location through their mobile phones, receive notifications on upcoming auctions, it said.

Commenting on the launch of the service, Origo Commodities co-founder Sunoor Kaul said: "After successes in the structured trade and supply chain, our efforts are now focused on streamlining through digital platforms that can address all concerns related to the commodities ecosystem."

Origo also offers state-of-the-art warehouse management systems, upgradation of supply chains, and securitised debt instruments to institutional investors and others.