what is national spot exchange ltd (NSEL)?

National Spot Exchange Limited is a Commodity Exchange where you can Buy or sell Coomodities listed for Trade including food grains, oil seeds etc. Exchange has ware housing facilities for the commodities. it is like trading in Stocks.

National Spot Exchange Ltd (NSEL) is a state-of-the-art electronic, demutualised commodity spot market. The Exchange is  promoted by Financial Technologies (India) Ltd (FTIL) and National Agricultural Cooperative Marketing Federation of India Limited (NAFED). It provides an electronic, transparent, well organized and centralized trading platform with the facility to access and participate the market remotely. It facilitates risk free and hassle free purchase and sell of quality and quantity specified commodities to commodity market participants including farmers, traders, processors, exporters, importers, arbitrageurs, investors and the retail market participants. Exchange also offers various other services such as quality certification, warehousing, warehouse receipt financing, etc. NSEL has been pioneer in offering commodity based investment instruments with the launch of E series Products.

Similarly there is exchange for Trading in Fruits and Vegetables SNX (SAFAL National Spot Exchange started by NDDB-SAFAL and MCX and Financial technologies group, but is in trouble right now.