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Karnataka to Launch Online Platform to Auction Cattle, Sheep

12 December 2016

INDIA - There's some relief for farmers reeling under the cash crunch and drought: the Karnataka government is set to launch an organized and innovative trading platform for livestock. The first product to be introduced on the auction will be cattle and sheep.

"We proposed to create this platform from the technologies provided by the advent of the Internet and electronic banking for more efficient and systematic livestock trading, and improved pricing since there is no organized market for livestock,'' said Manoj Rajan, managing director and CEO of Rashtriya e-Market Services, a joint venture between NCDEX Spot Exchange and the Karnataka government.

Though the purchase of a cow or sheep is the most crucial livelihood decision taken by dairy farmers, he said currently there are no means for farmers to take informed decisions, as the crude trade is dominated by brokers and agents who often cheat hapless farmers.

Source: The Times of India

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