Agribazaar - Electronic Marketplace
Stage of adaption :
Crop Planning stage/Cultivation Stage/Post Harvest Stage
agribazaar is an electronic marketplace that provides services to all stakeholders in the agri value chain. It started business in May 2017.
agribazaar is an electronic marketplace for agri commodities, which offers a bouquet of services for every stakeholder in the agri value chain. These services can be broadly classified as pre- and post-harvest services. Pre-harvest services consist of crop advisory to farmers, geo-tagging of farms, weather information, yield estimation and input sales. Post-harvest services comprise of buying / selling of agri commodities, warehousing, quality testing, financing services, transportation, and international trade.
Products and services on the agribazaar platform are provided by a range of alliance partners of agribazaar. Our customers have the freedom to choose the service (or product) provider based on different criteria including, but not limited to, pricing, quality, rating, brand etc. The agribazaar platform is an objective, neutral platform with no bias towards any service (or product) provider. It is a one-stop shop of services and products for their customers.
agribazaar aims to serve farmers, farmer collectives, domestic traders, exporters, importers, processors, government entities and financial institutions with the help of its alliance partners.
Our customers can avail any of the services mentioned above. However, the ones marked with a ‘Y” in the table below would be of most value to the customer segments.
Here is a technical representation of the agribazaar platform.
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.
Deployed in large scale
agribazaar has more than 1,55,000 users on its platform. So, it’s in the ‘Deployed in large scale’ category.
agribazaar has the following certifications and awards
• PCI DSS compliant and STQC certified.
• ISO 9001:2015, ISO27001:2013
• Certified CMMI Level 5
We provide services to farmers, traders, processors, corporates, banks and government institutions.
Agri Bazaar can be scaled across all the states
There are no limiting factors for large scale commercialisation
agribazaar does not charge a license fee. It charges its users a service fee. Farmers can use its services free of cost.
agribazaar is working towards empowering the farmer him by giving access to technology in both the pre- and post-harvest space. In the pre-harvest space we help him with free advisory on soil quality, improving yield and recommending best package of practices. We also make genuine inputs available at a low price to improve his profitability.
On the output side, agribazaar helps farmers sell from the farm-gate itself. Farmers can get their produce tested for quality and then list the trade on the platform and connect directly with processors.
We also work with agri-entrepreneurs (AEs), providing income opportunities for village youth in the village itself. AEs are agribazaar’s last mile connect with the farmer. They can earn Rs 1.75 – 2.25 Lakhs per annum as an AE.