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Thursday, October 19, 2006

Flower Auction

Auctions are very efficient in determining price, enabling approximately a thousand transactions per hour. It also enables efficient trading by operating at a high clock speed, encouraging competition among buyers, and setting a fixed time to complete a transaction before the clock goes to zero. The setting up of the flower auction centre would ensure organized trade and prevent deterioration of the quality of flowers. It would also help in raising the socio-economic status of those farmers interested in taking up the cultivation of flowers. The major buyers of flowers are in the UK, the US, Germany, France, Japan and Middle East.

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