Promoters of commodity exchange NMCE Reliance Money and Neptune Overseas have linked up with Agriculture Produce Marketing Committees (APMC) in Gujarat with the aim to roll out an electronic platform for physical trading in agriculture goods.

According to the sources, Reliance Money and Neptune Overseas have also decided to form a separate conglomerate National Agricultural Produce Market Company (NAPMC) in association with Gujarat Niyantrit Bazaar Sangh.

Gujarat Niyantrit Bazaar Sangh is a major body of 209 agricultural produces marketing committees.

While commenting on the tie up, Mr. Narayan Lalludas Patel, Chairman of Gujarat Niyantrit Bazaar Sangh stated, "As experience from futures market has been bitter, we collaborated with Reliance Money to open our own spot exchange."

According to the reports, Gujarat, a leading key producer in several agriculture products, has emerged as the largest destination for the private sector with as many as 12 players, including Jayant Agro, Gokul Refoils and Solvent.