ITC Ltd International Business Division
(ITC-IBD), ranked as the seventh largest exporter of coffee beans, has introduced an
online auction platform- Tradersnet- along with its web-based initiative Plantersnet, a
one-stop shop for all information and marketing needs of coffee planters.
Speaking to eFE, ITC-IBD vice-president-
exports Ninad Bhosle said, "Tradersnet builds in the practices of the existing
offline market while at the same time offering the flexibility of the online market and
unlike any other online auctions available today, offers auction for raw coffee along with
cleaned coffee".
Tradersnet will be launched at around 72 to
75 Plantersnet kiosks in different coffee growing areas of Karnataka to ensure easy
accessibility to coffee planters. The software will also be available for individual
users, like exporters, who can enter into an agreement with ITC-IBD.
Tradersnet would be open to planters,
exporters, curers, agents and brokers and would offer four trading mechanisms.
"Unlike any other online auction platforms we would offer four different trading
mechanisms through which a participant can take part in the auction- standard auction,
special auction, direct trade and negotiation," Mr. Bhosle said.
According to him, Tradersnet would offer a
better and wider reach, better returns and price discovery, counter-party flexibility,
convenience, risk management etc.
