Indian Sugar Exim Corporation (ISEC) in collaboration with NCDEX eMarket (NeML) has launched an electronic spot sugar market called ISeM, a web based mechanism that offers efficient, transparent and real time trading for sugar and allied products.
This step will help provide better price discovery and reduce intermediaries. The sugar mills currently sell sugar through wholesale brokers/dealers passing through 4-5 level of intermediaries before it finally reaches to the end-consumer.
Further, 300 members have already registered on the ISeM including Kendriya Bhandar, Patanjali among others.