SLCM accredited with National Multi Commodity Exchange (NMCE)

NEW DELHI - Feb. 24, 2015 - PRLog -- SLCM accredited with National Multi Commodity Exchange (NMCE)

New Delhi, 24^th February, 2015: Sohan Lal Commodity Management (SLCM), the post harvest agri-logistics and warehousing company, has been empanelled as the preferred Warehouse Service Provider (WSP) with National Multi Commodity Exchange (NMCE) for existing as well as new contracts to be launched by the Exchange.

The accreditation from NMCE will enable SLCM to provide storage & warehousing facilities to the trading/clearing members of the Exchange and their constituent/clients that will include acceptance, storage and delivery of the commodities. SLCM will support NMCE in developing its forward contracts & futures contract for several new commodities which NMCE is planning.

The agreement was signed recently at the Corporate Office of SLCM in presence of senior authorities of both parties present on the occasion. While signing the agreement, SLCM Group CEO - Sandeep Sabharwal said, "We are delighted to be associated with NMCE that has set competitive standards in the field of commodity trading in India and offers state-of-the art trading platform to the users. As WSP for NMCE, we are committed to offer world class technology enabled storage solutions and well-defined protection services for the entire range of agri-commodities like spices, oil seeds, grains, rubber, etc. across the country. With our superior capability of managing warehouses, we will ensure transparent services. This step also clearly establishes our leadership and validates our capabilities in managing agri products as we are the one and only service provider in India to be accredited with multiple exchanges."

Commenting on the development, Anil Mishra, MD, NMCE said that, “Widespread presence of SLCM would help us in developing Forward and Futures contracts in the geography where CWC is not having its presence. Additionally, stocks kept in SLCM warehouse would get Warehouse Receipt funding for the depositors.”

With this, SLCM becomes the one and only service provider in India which is accredited with three leading national exchanges - Multi Commodity Exchange of India Ltd, Mumbai (MCX), Ace Derivatives and Commodity Exchange Limited & now NMCE. The group already has license from Food Safety & Standards Authority of India (FSSAI) and is accredited with WDRA certification in the private sector.

About SLCM Group:

Sohan Lal Commodity Management Pvt. Ltd (SLCM) is an ISO certified, Agri-Logistics Company. SLCM warehouse management is equipped with technology to offer storage and protection services for the entire range of agri-commodities. SLCM has been handling more than 165 agri commodities including Cotton, Barley, Bajra, Castor Seeds, Wheat, Pulses, Maize, Spices, Aloe Vera, etc., across India. As on January, 2015, SLCM manages a technology enabled network of more than 640 warehouses and 15 cold storages across 16 states with a total capacity of over 1.45 Million metric tonnes spread over 8.45 Million square feet area and a throughput of 214 million metric tonnes.

SLCM is constantly bringing the best practices to upgrade the processes in the warehousing domain. In the first year of its operation, SLCM brought "Bar Coded" storage receipts in practice that eliminated the risk of Fraud in terms of fake storage receipts.

In a country like India where post harvest losses are pegged at 10%, SLCM has been instrumental in devising technology that has cut post harvest losses to 0.5% irrespective of infrastructure, crop or geographic location. (Accredited by FICCI in their Study) SLCM has devised a SOP which amalgamates technology with Agri domain expertise & allows SLCM to operate any warehouse agnostic of infrastructure, location, weather pattern across any kind of agriculture crop. It has also applied for patenting this scientific technology of storage under the name of “AGRI REACH”.

For media queries:

Ms. Nikita Kukreja

Fortuna PR

9811754989