AgriBazaar: Creating an Eco-System of Farmers and Traders for Transparent Commodity E-Trading
The Indian agri-business is largely fragmented and the farming community continues to face a lot of challenges in the marketing and trading of their agriproduce due to the growing influence of middlemen, inadequate storage facilities, lack of proper logistics and unfair prices. The Government which controls agriculture supply chain management and marketing through its agencies also lacks proper technology solutions and resources to facilitate the agritrading and bring in transparency and efficiency to the system. Farmers are forced to sell their produce at a price preset by the buyers owing to lack of information about the market scenario of the agricultural products unlike the producers and consumers of industrial goods.Online Trading Platform to Connect All Stakeholders
Perfectly understanding the ground reality of agritrading and related activities, AgriBazaar came forward with an integrated online agritrading platform connecting farmers with traders across the country for e-procurement, auction and trade of agricultural commodities, eliminating the need for middlemen. With a network of more than 700 warehouses across the country, AgriBazaar provides warehousing facilities along with inventory management services to monitor and manage the produce stored in the warehouses. The company also provides crop financing and quality assurance services to support the farmers and ensure higher productivity and quality. “Better prices for the agricultural produce with transparent trading facilities and financial assistance are the need of the hour for farmers today. And AgriBazaar is committed to fulfilling the same with its agritrading platform. Through our financial partners, we also provide collateral financing services to the farmers helping them come out of the distress. We have gained the trust and confidence of more than 250 farmers with our warehousing services, commodity financing facilities, harvest quality assurances and customized trading auctions integrated with secured payment and settlement solutions. So far, AgriBazaar has traded a contract value of Rs.7, 575 Cr against the total transaction volume of 18,90,333 MT maintaining transparency and integrity in the transactions. The company listed 32,365 auctions with 164 onboard commodities. AgriBazaar platform provides access to an ecosystem
comprising over 10,000 traders, processors and farmers with $2 billion worth of stock stored in 700+ warehouses across the country,” informs Sushan, Co-Founder.
Technology Solutions for Quality Produce
Apart from post-harvest services like online trading and warehousing, AgriBazaar also offers technology solutions to the preharvest issues of farming like low yields, seed quality, climatic changes etc. AgriBazaar has devised a state-of-art soil moisture detector based on smart sensing and IoT technologies for optimal water management. The company provides an application to test the physical parameters of the grain or seed to ensure the superior quality of the agricultural produce. It also provides contractual farming services which include seed distribution management system and crop life cycle management using GIS technology.
Agribazaar has empanelled a huge number of farmers, traders, processors, millers, Government bodies and private enterprises covering the entire chain of stakeholders involved in the agriculture domain to create an eco-system for transparent commodity e-trading. “In a span of just 2 years, we have achieved a successful transaction of over USD 1 billion through our online platform. We have been working with government agricultural markets such as National Agricultural Cooperative Marketing Federation of India and Andhra Pradesh State Co-operative Marketing Federation etc. We are planning to come up with a social media platform for agricommunity where they can discuss the issues related to their agricultural produce,” concludes Sushan.
Technology Solutions for Quality Produce
Apart from post-harvest services like online trading and warehousing, AgriBazaar also offers technology solutions to the preharvest issues of farming like low yields, seed quality, climatic changes etc. AgriBazaar has devised a state-of-art soil moisture detector based on smart sensing and IoT technologies for optimal water management. The company provides an application to test the physical parameters of the grain or seed to ensure the superior quality of the agricultural produce. It also provides contractual farming services which include seed distribution management system and crop life cycle management using GIS technology.
We have gained the trust and confidence of more than 250 farmers with our warehousing services, commodity financing facilities, harvest quality assurances and customized trading auctions integrated with secured payment and settlement solutions
Agribazaar has empanelled a huge number of farmers, traders, processors, millers, Government bodies and private enterprises covering the entire chain of stakeholders involved in the agriculture domain to create an eco-system for transparent commodity e-trading. “In a span of just 2 years, we have achieved a successful transaction of over USD 1 billion through our online platform. We have been working with government agricultural markets such as National Agricultural Cooperative Marketing Federation of India and Andhra Pradesh State Co-operative Marketing Federation etc. We are planning to come up with a social media platform for agricommunity where they can discuss the issues related to their agricultural produce,” concludes Sushan.
