India to Introduce Electronic Auctions by End of Year

Source from:  Tobacco Reporter 05/20/2011

An electronic auction system will be used across all auction platforms for the sale of Karnataka tobaccos harvested during the 2011-12 season, according to a story in the latest issue of the BBM Bommidala Group newsletter. The Tobacco Board of India has already carried out trials with electronic auctions and has now earmarked Rs300 million for their introduction. The new system, which is likely to include also the installation of closed circuit cameras at the auction floors, is being introduced to ensure transparency during the sales and to protect the interests of the growers. Electronic auctions are expected to be introduced in Andhra Pradesh from February next year. Enditem