Farmers can avail of multiple services from agribazaar. All these services are available through the agribazaar app. Farmers can place order for seeds, fertilizers and pesticides through the app and the inputs will be delivered to them. Similarly, they can get advisory services around the products they use or order from the input companies. They can also get advice from agronomists about soil quality and increasing yield. Using remote sensing we geo-tag the farm of a farmer and offer focussed advice to that farmer. We also provide early warning signals in case an infestation is about take place.
Farmers can also use our app to sell their produce. They can connect directly with traders, processors and corporates on our platform. They have have their produce tested for quality at one of the labs registered on the platform and then list the produce for sale. They can also request for storage services at a location close to the farm-gate. Farmers receive money immediately on sale of their produce, directly into their bank accounts.
Processors and Corporates can buy directly from farmers on our platform. Some of the benefits are listed below.
Benefits of agribazaar
Disintermediation – Intermediaries in agri markets increase the cost of goods to buyers by about 6 to 8% of the value of the commodity. The agribazaar platform brings down the cost for buyers on the platform by connecting farmers and small suppliers directly to buyers / processors.
Transparency –Transactions on the agribazaar platform are transparent and eliminate hidden costs. The auction itself and price at which a transaction is concluded is visible on the app / website.
Counterparty risk mitigation – agribazaar ensures both buyers and sellers deposit earnest money (EMD) with the platform before commencement of the trade. If a party defaults on its commitment, then EMD of the defaulting party is transferred to the counterparty. In addition, agribazaar ensures that sellers receive money after they have delivered goods to the buyer. Similarly, buyers have to release money to agribazaar before they can take possession of goods.
Quality and Traceability – Sellers must deliver goods of the quality agreed upon at the time of the trade, else they are deemed to have defaulted on their obligation. The processes at agribazaar ensure that buyers receive the quality they had asked for. Also, agribazaar will also provide traceability for traded goods such as the farm where it was grown, pesticides used etc.