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

AgriBazaar, the digital marketplace position for farm items is expecting a significant leap in transactions…

AgriBazaar, the digital marketplace position for farm items is expecting a significant leap in transactions on its system immediately after the Centre not long ago authorized farmers to offer their create outdoors the controlled markets.

“We are concentrating on transactions really worth ₹20,000 crore to be carried out on our system this monetary 12 months as extra farmers and purchasers are registering with us to trade,” explained Amith Agarwal, CEO and co-founder, AgriBazaar. In 2019-20, transactions really worth ₹6,000 crore ended up carried out on the AgriBazaar system, and the gross goods price (GMV) traded during April-June quarter stood at ₹5,500 crore.

At present, about 200 Farmer Producer Organisations, about three lakh farmers and 16,000 processors are registered with AgriBazaar, carrying out transactions on the three 12 months-aged digital marketplace position.

Considering that the Covid lockdown, which coincided with the rabi harvest year impacting operations at mandis, the AgriBazaar system has witnessed a four hundred for every cent development in, transactions as extra farmers and purchasers took the digital route, Agarwal explained.

Way ahead

AgriBazaar, which operated in choose States just before the marketing reforms ended up released, had a GMV of ₹14,000 crore in the past three many years, Agarwal explained.

“The transparency in selling price discovery and the have confidence in issue coupled with top quality assurance provided by the system has been attracting extra gamers,” Agarwal explained. AgriBazaar at present operates in 16 States and is also preparing to established up 500 labs across the state in partnership with agri-entrepreneurs for providing top quality products and services assaying and certification. It has also partnered with a number of logistics gamers in some locations.

“We are at present working close to 32 metropolitan areas, which we program to extend to 75 quickly,” he explained. AgriBazaar is also preparing to boost its headcount to about 500 people today from the present a hundred and fifty as it expands operations.

Just lately, AgriBazaar has also started offering farm inputs these as seeds, plant protection chemicals and bio-fertilisers via its system and has partnered with about 30 input corporations including Bayer CropScience.

“We are at present focussed on number of agri-price chains these as mustard and millets and would be growing to vegetables likely ahead,” Agarwal added.