Reuters Market Light (RML) is part of the Thomson Reuters Group. Launched in 2007, first in Maharashtra, the service is now available in at least 10,000 villages across 12 states. Amit Mehra, MD, RML, speaks to Sanjeeb Mukherjee on RML and how it works. Excerpts:
What exactly is RML and how does it function?
RML is a highly personalised, professional information service for farmers. There are four types of information that we disseminate??the weather forecast down to the barest details like the relative humidity of a certain area, the temperature, the rainfall, and so on; market prices of more than 200 different crops from 1,000 markets across the country; agriculture news that is relevant to the individual farmer; and agriculture tips like the kind of seeds to plant, when to wash the plants, etc. For example, we even tell the farmer that watering his mango plants with cold water will help increase yield, and he should get a phytosanitary certificate from Nashik and not Mumbai.
How does a farmer subscribe to the service?
Suppose there is a farmer in Yavatmal district, Maharashtra. He buys an RML card from a store selling agri inputs. There is a number mentioned on the card, and the call centre number of RML. He calls up the call centre and gives the card number and tells us his requirement and also choose the market which he needs prices of, like his nearest mandi. We know the area where he stays, then give him information about the weather within a 50-km radius, right up to the taluka and village level, crop-specific news and agriculture tips based on his information.
What are the charges for the service?
Presently, we charge Rs 250 for a three-month service. The uniqueness is that RML is compatible with all service providers across all handsets.
What is the big differentiating factor for RML?
For us the big differentiator is that we provide all the information in local language and at the right time of the day. For instance, weather information is supplied in the morning, so that the farmer accordingly plans his day?s work, and prices around noon.
How does RML provide so much information?
We have an extensive network of several hundred content creators for RML, who also supply global news. For example, there is an instance of a soybean farmer holding back his produce after getting the news that prices have crashed in Argentina. He later made a neat profit after the markets moved up. Our content management team from Bangalore and Pune works to supply relevant information to the growers. We also have full-time correspondents for RML.
What is Thomson Reuters? investment in RML and how much is the revenue in the past two years?
All I can say is that Thomson Reuters? business unit pumped in several million dollars in the project. As a matter of policy, we don?t share revenue and investment numbers for specific projects.
Expansion plans for RML…
Presently, our plan is to expand in India to cover almost the entire country. We are looking at replicating the Indian model in African and Latin America.