AgriBazaar sees major jump in transactions as more farmers, buyers go online

AgriBazaar, the digital market position for farm goods is anticipating a important leap in transactions on its platform soon after the Centre just lately permitted farmers to market their generate outside the regulated markets.

“We are concentrating on transactions really worth ₹20,000 crore to be carried out on our platform this financial calendar year as additional farmers and potential buyers are registering with us to trade,” reported Amith Agarwal, CEO and co-founder, AgriBazaar. In 2019-20, transactions really worth ₹6,000 crore were carried out on the AgriBazaar platform, and the gross goods worth (GMV) traded in the course of April-June quarter stood at ₹5,500 crore.

At present, over 200 Farmer Producer Organisations, about three lakh farmers and 16,000 processors are registered with AgriBazaar, carrying out transactions on the three calendar year-outdated digital market position.

Since the Covid lockdown, which coincided with the rabi harvest time impacting functions at mandis, the AgriBazaar platform has witnessed a four hundred for each cent expansion in, transactions as additional farmers and potential buyers took the digital route, Agarwal reported.

Way forward

AgriBazaar, which operated in decide on States in advance of the advertising and marketing reforms were launched, had a GMV of ₹14,000 crore in the previous three several years, Agarwal reported.

“The transparency in rate discovery and the trust aspect coupled with top quality assurance made available by the platform has been attracting additional gamers,” Agarwal reported. AgriBazaar presently operates in 16 States and is also scheduling to established up 500 labs throughout the country in partnership with agri-business people for giving top quality expert services assaying and certification. It has also partnered with a number of logistics gamers in some areas.

“We are presently working close to 32 metropolitan areas, which we system to expand to seventy five shortly,” he reported. AgriBazaar is also scheduling to boost its headcount to close to 500 people from the present 150 as it expands functions.

Just lately, AgriBazaar has also commenced offering farm inputs these kinds of as seeds, plant defense chemicals and bio-fertilisers by its platform and has partnered with about thirty enter firms which includes Bayer CropScience.

“We are presently focussed on number of agri-worth chains these kinds of as mustard and millets and would be increasing to veggies likely forward,” Agarwal extra.