National Commodities Management Services

What National Commodities Management Services does

National Commodities Management Services Limited (NCML), founded in 2004 and headquartered in Gurgaon, is India's largest integrated post-harvest commodity management solution provider. The company operates a PAN India network of 297 warehouses across 28 states with 1.89 million tonnes of storage capacity and 6.72 million sq. feet of warehousing area, supplemented by 22 regional offices, 800+ touch points at agricultural produce markets, and 935 service outlets. NCML serves farmers, traders, banks, government agencies, and corporates across the agricultural commodity value chain, managing 52 agricultural commodities and managing ₹1,564 Crores in assets under management on behalf of 28 partner banks. The company is majority-owned by Fairfax India Holdings Corporation, with a promoter consortium that includes IFFCO, IFC, Rabo Bank, NCDEX, and several Indian public sector banks.

NCML's product portfolio spans storage and preservation, procurement and supply chain management (notably as the first private procurement agency engaged for Government of India MSP operations), collateral management, food testing and certification under the CommGrade brand (NABL-accredited, FSSAI/APEDA/EIC-compliant labs in 32 locations), weather intelligence and consulting under the AGCON brand, and electronic trading via MktYard.com. The wholly-owned NBFC subsidiary NCML Finance offers warehouse receipt finance, secured loans, and bill discounting. The technology stack includes IT-enabled warehouse management systems, proprietary MktYard.com e-auction and e-procurement platform, and a Department of Science and Technology-recognised R&D centre for weather and crop monitoring. NCML also signed concession agreements with the Food Corporation of India for steel silo construction at 11 locations and was selected as an implementation partner for the Maharashtra government's WINDS automated weather station project.

The business model is multi-stream: storage and preservation generate recurring rental revenue, collateral management operates on managed service fees against the ₹1,564 Crores AUM, NCML Finance generates interest income from warehouse receipt financing, CommGrade operates on professional services pricing for testing and certification, and procurement activities earn transaction fees on government MSP operations. Go-to-market is enterprise field sales with direct engagement across farmer, corporate, bank, and government segments. Pricing is not publicly disclosed, with agreements negotiated individually. Stated annual turnover is ₹500 Crores, though specific revenue figures are not separately disclosed.

Name

National Commodities Management Services

Legal name

National Commodities Management Services Limited

Website

https://ncml.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

National Commodities Management Services (NCML) is India's largest integrated post-harvest commodity management provider, offering storage, collateral management, testing, procurement, and NBFC financing across 297 warehouses in 28 states. It serves farmers, banks, government agencies, and corporates including FCI, Cargill, ITC, and Adani.

Ownership category

akta.pro rank

Product category

Agricultural Commodity Management Services

NAICS

Farm Product Warehousing and Storage (493130), Warehousing and Storage (493)

SIC

Public Warehousing & Storage (4220)

akta.pro primary industry

Bulk Ingredient Logistics, Storage & Transloading (Food Commodities) (AFAIAKAM)

akta.pro secondary industry

Bulk & Industrial Storage (Tank, Silo, Drum, IBC) (TLAIACAH)

Keywords

• Post-harvest commodity management
• Agricultural warehousing services
• Collateral management services
• Warehouse receipt finance
• Food testing certification

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Storage & Preservation Services: Charges for scientific and IT-enabled storage and preservation of agri and non-agri commodities across 102 warehouses covering 6.72 million sq. feet.
2. Collateral Management: Pioneer in providing collateral management services to banks, assisting industries, traders and farmers in financing capital requirements. Provides custodial services to 28 partner banks with AUM of ₹1564 Crores.
3. NCML Finance (NBFC): RBI registered NBFC offering Warehouse Receipt Finance (WRF), Multipurpose Secured Loan, Lease Rent Discounting, Demat Commodity Finance and Bill Discounting for rural and agri-business finance.
4. Testing & Certification (CommGrade): Food testing and certification services with state-of-the-art laboratories for pesticide residues, heavy metals, fungal toxins testing to meet FSSAI, APEDA, EIC, NCDEX requirements.
5. Procurement & Supply Chain: First private procurement agency engaged by Government of India for MSP operations. Provides linkages for growers & traders with spot and future markets.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

National Commodities Management Services Limited (NCML) is India's largest integrated post-harvest commodity management service provider, delivering scientific storage and preservation, procurement and supply chain, collateral management, testing and certification (CommGrade), warehouse receipt finance (NCML Finance), e-trading (MktYard.com), and weather and commodity intelligence (AGCON) across a PAN-India warehouse and field network serving farmers, banks, government agencies and corporates.

Product overview

NCML operates as a single unified platform offering integrated post-harvest commodity management services. The core NCML platform provides storage, procurement, collateral management, testing, and intelligence services. The product portfolio includes subsidiaries NCML Finance (NBFC for warehouse receipt finance), MktYard.com (e-auction and e-procurement portal), Agcon (commodity market intelligence reports), and CommGrade (food testing and certification). Cloud Trucking rounds out the logistics offerings. Together these products form an end-to-end commodity supply chain solution covering procurement, storage, financing, trading, testing, and market intelligence.

Differentiator

Problem solved

Functional benefit

Products and services

• Storage & Preservation Services Modern, scientific and IT-enabled storage and preservation services for the entire range of agri and non-agri commodities across 297 warehouses in 28 Indian states, with a total storage capacity of 1.89 million tonnes across 6.72 million sq. ft.
• Procurement & Supply Chain Services First private procurement agency engaged by the Government of India to procure commodities under Minimum Support Price (MSP) operations, providing linkages for growers and traders with spot and future markets.
• Collateral Management Services Pioneer in providing collateral management services to banks, assisting industries, traders and farmers in financing capital requirements at all stages of the supply chain; provides custodial services to 28 partner banks with assets under management of ₹1,564 Crores.
• NCML Finance (NFin) RBI registered Non-Banking Finance Company (NBFC) wholly-owned subsidiary of NCML with focus on rural and agri-business finance, offering Warehouse Receipt Finance, Multipurpose Secured Loan, Lease Rent Discounting, Demat Commodity Finance and Bill Discounting.
• MktYard.com First portal in the sector to offer a range of services including forward/reverse e-auctions, partial e-auctions, e-procurement, and order matching based buying/selling of both agri and non-agri commodities via safe payment gateway, escrow and virtual account mechanisms.
• Cloud Trucking Logistics and trucking service for commodity transportation across NCML's network, complementing its warehousing and supply chain offerings.
• CommGrade Testing & Certification Food testing and certification division of NCML providing inspection and testing of food, agricultural and allied products through a network of 32 laboratories across India with NABL accreditation; tests for pesticide residues, heavy metals, fungal toxins and microbiological parameters using LC-MS/MS, GC-MS/MS, ICP-MS and HPLC equipment to meet FSSAI, APEDA and EIC requirements.
• Weather Intelligence & Consultancy (AGCON) Provides market intelligence on entire range of commodities traded in the country with pragmatic solutions based on assessment of existing resources, identification of problems and critical evaluation of alternatives; publishes AGCON Commodity Market Monitor Report.
• Automated Weather Stations (AWS) Deployment Installation and maintenance of Automated Weather Stations across every village in Maharashtra under the state government's WINDS project, providing accurate localized weather data for agricultural guidance and disaster management; deployed as one of five implementation partners with 5-year maintenance funded by PMFBY FIAT fund.
• Steel Silo Food Grain Storage (FCI SPVs) Construction and operation of steel silo food grain storage facilities for the Food Corporation of India (FCI) under 11 Special Purpose Vehicles at locations including Basti, Batala, Chhehretta, Faizabad, Jalalabad, Bhattu, Deoria, Varanasi, Palwal, Sonepat and Bettiah.

Quantifiable outcome

• 1.89 million tonnes storage capacity across India
• +3 more outcomes

Named customers12 records

Segments1 record

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core, flagship and minor.

• Maharashtra GovernmentcoreStrategic or Co-development Partner · 28 June 2025Five implementation partners selected through financial bidding to install and maintain automated weather stations in every village across Maharashtra under the WINDS project. NCML provides AWS installation and maintenance for 5 years, funded by PMFBY FIAT fund.
• L&T FinancecoreStrategic or Co-development Partner · 19 May 2022Strategic partnership for collateral management and warehousing services to assist farmers in warehouse receipt financing. L&T Finance leverages NCML's warehouse network to provide commodity finance products across rural India.
• Food Corporation of India (FCI)flagshipStrategic or Co-development Partner · 3 February 2017NCML signed concession agreement for 11 SPVs to build steel silo food grain storage facilities at locations including Basti, Batala, Chhehretta, Faizabad, Jalalabad, Bhattu, Deoria, Varanasi, Palwal, Sonepat, and Bettiah. First legal bidder to sign the agreement.
• Karnataka BankcoreStrategic or Co-development Partner · 10 September 2012Strategic partnership for collateral management and warehousing services to assist industries, traders and farmers in financing capital requirements at all stages of supply chain from pre-harvesting to marketing and export stages.
• Ethiopian Commodity ExchangeminorStrategic or Co-development PartnerEthiopian delegation visited NCML Gurgaon office for knowledge sharing on agricultural warehousing and commodities based collateral and financing ecosystem. CEO of Ethiopian Commodity Exchange was part of the delegation.

Scale indicators14 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Sohan Lal Commodity Management (SLCM): SLCM is India's largest independent agri-logistics company offering scientific warehousing, collateral management, and financing — directly competing with NCML across storage, WRF, and farm-to-market services.
• National Bulk Handling Corporation (NBHC): NBHC provides commodity collateral management, testing, and storage services for banks and agri-corporates, mirroring NCML's core offering with similar institutional bank relationships.
• Star Agriwarehousing and Collateral Management: Star Agri offers agri-warehousing, collateral financing, and commodity management services to banks and corporates, competing head-to-head with NCML on warehouse receipt financing.

Broad incumbents

• Adani Agri Logistics: Part of the Adani Group, Adani Agri Logistics operates bulk grain handling, storage silos, and food distribution infrastructure — overlapping with NCML's silo and warehousing franchise at larger scale.
• Central Warehousing Corporation: A Government of India PSU operating the largest public warehouse network in India; competes with NCML for storage contracts and government logistics mandates.
• National Agricultural Cooperative Marketing Federation (NAFED): A central PSU handling procurement, storage, and distribution of agri commodities; competes with NCML for MSP procurement and large-scale storage contracts.

Regional players

• National Commodity & Derivatives Exchange (NCDEX): While a promoter of NCML and primarily a commodity exchange, NCDEX's accredited warehouse and assaying services compete with NCML's collateral management and MktYard e-trading.

Emerging players

• ITC e-Choupal: ITC's agri-digital platform connects farmers to markets, sourcing, and weather information; represents a corporate competitor with overlapping farmer engagement and procurement capabilities.
• Cropin Technology Solutions: An agri-tech platform providing crop intelligence, weather, and traceability solutions — overlapping with NCML's AGCON weather intelligence and R&D-based crop monitoring services.
• AgNext Technologies: AgNext uses AI and portable devices for commodity quality testing — competing with NCML's CommGrade testing labs on digital food and agri commodity quality assessment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ncmlsocial
• LinkedInlinkedin.com/company/ncml-india

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Commodities Management Services