You are here: Home » Markets » News
Business Standard

NCDEX starts online warehouse space booking

The exchange states real time service will enhance ease of doing business

BS Reporter  |  Ahmedabad 

In a first, NCDEX launches online warehouse space booking facility

Registered customers at the National Commodity & Derivatives Exchange (NCDEX) may now view and book warehouse space online.

It has announced the launch of an online Warehouse Space Reservation system. Aimed, it says, to offer relief for depositors who experience long waiting periods outside warehouses during peak season, and find difficulty in locating empty ones.

Integrated within its electronic commodity accounting system, COMTRACK, the system will enable a depositor to check availability and book space in a warehouse of choice, at a click, from home or office. NCDEX said the facility was also being made available on its mobile app, through the Book-My-Warehouse tab.

"Clients can book warehouse space even when on the move. The NCDEX app will be available on the Apple, Android and Windows systems," it stated. NCDEX has 466 approved warehouses.

"This online system (will be) a game-changer for the way commodities are stored and managed, and the benefits will extend ultimately to the retail consumer," said Samir Shah, managing director.

In the initial phase, the facility is available for three commodities -- sugar, turmeric and barley -- across select warehouses. It will be extended across all 26 commodities traded on the exchange, across regions. The system permits reserving of space for up to 500 tonnes a warehouse in a day. "Clients are also allowed to initiate a wait list request, in case of on-availability of space in their choice of warehouse. E-mail alerts help clients keep track of their booking status," said NCDEX.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 14 2016. 00:30 IST