Witnessing 400% m-o-m jump in registrations and turnovers in 3 months: AgriBazaar

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July 25, 2020 1:15 AM

AgriBazaar aims to reach one crore (100,00,000) farmers in the next 36 months.

AgriBazaar aims to reach one crore (100,00,000) farmers in the next 36 months.

AgriBazaar, the digital marketplace or e-mandi, said that it is witnessing 400% month-on-month jump in registrations and turnovers in the past three months with most of the country under some sort of lockdown.

Amendment to the Essential Commodities Act has also made the marketplace for the farmers bigger and helped in better price discovery, Amit Agarwal, Co-founder & CEO AgriBazaar said.

“AgriBazaar is India’s first and pioneering digital e-mandi. Today it is the only player that is present in both pre and post-harvest sales on its online platform. It wants every Indian small farmer to go trade in its e-mandi to get better price, information and advisory ,” Agarwal said.

Founded in 2016, the bootstrapped startup has connected around 10,000 traders and processors, over 100 Farmer Producer Organizations (FPO) with its network of over 200,000 farmers across 36 states .The app has done Rs 14,000 crores (US$ 1.87 billion approx.) of GMV since its inception.

As a full-stack agritech player, the company has replicated the physical mandi to an (electronic) e-mandi aggregator model through which once a farmer registers and uploads his produce, buyers can give orders for the purchase. And, once the deal is complete, AgriBazaar facilitates the logistics of picking up the grain from the farmer’s doorstep and delivering it to the buyers’ warehouse. It charges a transaction fee from buyers, while farmers can sell their produce at no additional cost.

He added that with the new policies the farmer is no more required to sell in the nearest physical APMC mandi.  “The market for him has become bigger, all India. By going online to the digital mandi, he can now sell this produce to anybody, anywhere.Amendment to the Essential Commodities Act removes cereals, pulses, oilseeds, edible oils, onion and potatoes from this list, thus, they can be now freely traded all over India. This will enable the storage, movement, distribution and supply of farm commodities and will attract private investment in agri-supply chain and logistics,” he said.

AgriBazaar aims to reach one crore (100,00,000) farmers in the next 36 months.

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