Markfed makes profit in e-auction of nearly 11LT of maize procured in Rabi
The Telangana Cooperative Marketing Federation (TG-Markfed) successfully auctioned over 10 lakh tonnes of maize, generating a profit of ₹1,500 per tonne. The agency is now working with the Food Corporation of India to address storage capacity shortages in the state.
Why it matters
Efficient grain management and storage are vital for the economic stability of the agricultural sector in Telangana.
The Telangana Cooperative Marketing Federation (TG-Markfed) has secured an average price of ₹25,370 per tonne in the e-auction of maize conducted in three phases, and it had yielded a profit of ₹1,500 per tonne compared to the procurement price.
The agency went for e-auction, instead of the practice of e-tenders in the past, for sale of 10.98 lakh tonnes of maize procured during the recent Rabi season. Minister for Agriculture Tummala Nageswara Rao has stated that Markfed had procured a record 14.6 lakh tonnes of maize during Rabi.
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