This
saying got hit to the Mr. Amit Agarwal
Since our honorable Prime Minister, Mr. Narendra Modi declared nationwide
lockdown and due to this many industries grounded and among them, agriculture
hit so hard.
In the first phase of the lockdown, the most prominent impact was
felt in the food supply and on essential things. Due to closure of all APMC
market (mandi) farmers find very difficult to sell their harvested crops to the
people, for them a Delhi based start-up AGRIBAZAR come as
their savior.
About Agribazar
Agribazar was founded by Mr. Amit Agarwal founded in 2017. With
the vision of the modern ecosystem. AgriBazaar is a one-stop AgriTech platform
for Precision Agriculture, Warehousing, Agri-Trading and Finance &
Payments.
The E- mandi model
AgriBazaar has replaced the physical mandi online and married it
with trading features. Once a farmer registers and lists his product, buyers
can place their orders. They are encouraged to top up their AgriPay wallets to show
willingness for purchase.
After a transaction is processed, the start-up facilitates the
logistics of picking up the product from the farmers' doorstep and transporting
it to the buyers' warehouse. It deploys its own staff and vehicles, and
partners with local transporters and even large logistics operators for the
delivery of the product.
Buyers get access to more than 12,000 suppliers (which includes
farmers and village-level traders). Each supplier is verified by them based on
KYC registrations. Buyers get access to supplier ratings and a wide selection
of products at the time of purchase. It helps them to gain their trust.
How it is
done
AgriBazaar also helps
buyers from MNCs to small-scale industries with better price discovery and
sellers with more targeted marketing of their products. It charges a
transaction fee from buyers, while farmers can sell their products at no
additional cost.
Boost in their business
after COVID- 19
AgriBazaar has recorded a significant jump in transactions and inquiries following the COVID-19 the outbreak, with people avoiding crowded places like food mandis.
Agribazar volumes have been very high in the last few weeks after
the closing of APMC markets. Transactions have grown by 400 percent in one
month. We are getting 500+ farmer requests per day. Farmers also get better
deals digitally and can save up on transportation costs if they sell through an
e-mandi.
Now they focus on products which have a shelf like of 3-4 months
and this situation they have their bestselling food products like - dry items
like pulses, oilseeds, mustard, millets, wheat, soybean, sugar, milk powder,
and fruits like grapes, litchis, and mangoes.
Major farmers are from Rajasthan, Maharashtra, and Madhya Pradesh.
AgriBazaar has also partnered with co-operative societies for sugar and
pulses. Agribazar has started improving slowly in the last 10 to 12 days
after the MHA’s renewed guidelines on “essential services”.
Success and plan for
future
MR. Amit is a very visionary person he claims that they have grown
up 100 %GMV (gross market value) since 2017 and facilitated around 2.25 million
transactions and do business with the trading of around Rs. 8304 crores of
items.
Till now the whole financial is handle by himself of around 24 cr.
He invested in the business coming from parent company StarAgri (which is into
agri-warehousing and Agri commodity marketing).
In the upcoming future, they will raise a fund of around $15 to $20 million to expand their operations in every city and village of India
Thank You,
Regards,
Ashish Panchal,
E-Cell,
IBS Mumbai.
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