Released on = March 3, 2006, 2:51 am

Press Release Author = For editorial queries only contact Sonia/Prakruthi of PRHUB @
22483007/8.

Industry =

Press Release Summary = Move a tremendous boon for coffee growers in Chikmangalur,
Hassan, Madikeri

Press Release Body = Bangalore, March 3, 2006: National Multi-Commodity Exchange of
India (NMCE), a leading multi commodities exchange today announced that it has
arranged for a warehouse for coffee through Central Warehousing Corporation (CWC) at
Kushalnagar in Kodagu district of Karnataka. The new warehouse addresses a long
pending demand of coffee growers in and around the district since otherwise they
have to incur additional costs of transportation and also be exposed to additional
risks while transporting. The warehouse which will be state-of-the-art to ensure the
right environment for preserving the moisture and colour would have an initial
capacity of 600 MT. The move is also keeping in view of the fact that Karnataka
accounts for 68.6% (30.8% Arabica and 37.8% Robusta) of India's coffee production
(based on 2003-04 coffee season). Within Karnataka, most of the coffee grown is from
these regions.
Making the announcement, Kailash Gupta, Managing Director, NMCE, said,"At NMCE we
believe that the only way to make more people enter the system of trading is to make
the infrastructure for doing so convenient, accessible and the process of doing so
easy. All that any coffee grower has to do now is to deliver their produce at
Kushalnagar itself instead of transporting it to Bangalore and get the CWC receipt
of the same. And once he has a CWC receipt it allows them to trade through a broker
and get the best possible deal on their produce. I am thankful to CWC for acceding
to our request and arranging for the facility."
According to S.C.S Rao, Regional Manager CWC, Bangalore" A majority of the coffee
curing centers are located in and around the Kodagu district and our field study
revealed that Kushalnagar will be the appropriate nerve center for locating the
warehouse. We are happy to have the warehouse which will ultimately help even the
small growers to deliver their produce at CWC."
NMCE, one of India's leading commodity exchanges and a pioneer in the space is
promoted by Punjab National Bank, Central Warehousing Corporation, National
Agricultural Co-operative Marketing Federation of India (NAFED), Gujarat Agro
Industries Corporation (GAIC), National Institute of Agricultural Marketing (NIAM),
Gujarat State Agricultural Marketing Board (GSAMB) and Neptune Overseas Ltd. (NOL).
Which makes it the only such exchange in India with a backing relevant for an
exchange dealing with diverse commodities and not one that is focused on technology
or financials alone. With its emphasis on physical delivery, NMCE is the best and
most secure platform for all the stakeholders. This NMCE believes is important for
bringing more and more consumers into the trading circle, particularly the small
growers of various commodities.


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