Tender Notice from Chhattisgarh State Cooperative Marketing Federation Ltd. for Paddy Price Matching
Tender Notice from Chhattisgarh State Cooperative Marketing Federation Ltd. for Paddy Price Matching
Raipur, Chhattisgarh – The Chhattisgarh State Cooperative Marketing Federation Ltd. (Markfed) has issued a notice regarding price matching for the disposal of surplus paddy from the Kharif marketing year 2024-25. This notice, referenced as No./Marketing/Surplus Paddy/1029/2025 and dated 24.05.2025, invites registered bidders to participate in the price matching process.
The first phase of the e-auction for the surplus paddy concluded on 23.05.2025. Following this, Markfed is offering an opportunity for price matching based on the highest bids received. This price matching process will commence on 26.05.2025 and will continue daily (excluding Sundays) until further notice, based on the availability of stock.
Interested bidders already registered on the e-auction platform (M-junction) can participate in this price matching. The determined rates for participation are as follows:
- Grade-A Paddy (New, Coarse): ₹2100 per quintal
- Grade-A Paddy (Old, Coarse): ₹2050 per quintal
- Common Paddy (New, Coarse): ₹1950 per quintal
- Common Paddy (Old, Coarse): ₹1900 per quintal
The daily schedule for the price matching, along with details regarding stock and varieties, will be available on the M-junction website: www.cgmarkfed.mjunction.in. Registered bidders can participate in the price matching through this platform.
This notice is issued by the General Manager (Marketing) of Markfed.
What is Price Matching in this Context?
In the context of this tender notice, price matching refers to a process where, after an initial auction or bidding round, other registered bidders are given the opportunity to match the highest bid price that was received for a particular lot or item (in this case, different grades of paddy).
Here’s a breakdown of how it likely works based on the information:
- Initial Auction: An e-auction was held where bidders submitted their prices for the surplus paddy. The highest bids for different categories of paddy were established.
- Opportunity to Match: Instead of immediately awarding the contract to the highest bidder, Markfed is now allowing other registered bidders (who may not have bid the highest initially or may not have participated as aggressively) to agree to purchase the paddy at that established highest price.
- Objective: The aim of price matching in such scenarios can be multi-fold:
- Wider Participation: It allows more bidders a chance to secure the goods if they are willing to meet the top price.
- Faster Disposal: It can expedite the sale of the surplus stock by having multiple buyers at the determined best price.
- Ensuring Fair Value: It ensures that the seller (Markfed) gets the best possible price as determined by the initial auction, while potentially increasing the volume sold at that price.
Essentially, eligible bidders who are willing to pay the pre-determined rates (which are based on the highest bids from the auction) can participate in this subsequent phase to procure the paddy.