mjunction services limited, a leading B2B e-commerce company, conducted its first ever e-auction of large cardamom last week. Earlier, mjunction received the auctioneer licence from Spices Board of India to conduct e-auction for spices.
Buyers from West Bengal, Assam, Karnataka and Sikkim participated with offerings from Phek Organic Large Cardamom Producer Co. Ltd., Nagaland. The offered quantity was 800 kg and the entire quantity got sold at an average price of ₹562 per kg.
Highest bidder
Kukkr Technologies, a Bangalore-based spice exporter, emerged the highest bidder.
Vinaya Varma, Managing Director, mjunction, said the company is very keen to explore and provide its technology-backed auction platform with value-added services to sellers and buyers nationally. “I am hopeful that this will pave the way for other spice products to come under our e-auction ambit,” he said.
BN Jha, Director - Marketing, Spices Board, complimented mjunction and all stakeholders for the successfully conducting the e-auction.
Vilhou Wetsah, CEO of Phek Organic Large Cardamom Producer Co. Ltd., Nagaland, acknowledged Spices Board and mjunction for providing marketing and auctioning support.
Vijay Kumar G, CEO of Kukkr Technologies, expressed gratitude towards mjunction for bringing the sellers to the platform and hoped that buyers could get more benefits and varieties of spices in the coming days.
Founded in 2001 and headquartered in Kolkata, mjunction services limited is an equal joint venture by of SAIL and Tata Steel. It is a customer focused, technology-driven and innovative e-commerce company. mjunction connects businesses with businesses to buy and sell better using digital platforms.