AgriBazaar, the electronic market for farm products, is increasing its on floor existence in about 75 villages of Madhya Pradesh, Maharashtra and Rajasthan this year. The company will be setting up fulfilment centres in 25 villages in each and every of these a few States to acquire the agri-sector to the farmer’s doorstep.
“We will be investing all over ₹9 crore in increasing village stage fulfilment centres and system to employ the service of 100 more personnel this year,” said Amith Agarwal, CEO and Co-Founder, AgriBazaar.
The company presently has set up some 25 village fulfilment centres (VFCs) on a pilot basis across MP and Maharashtra, which are developed to make sure a rapid turnaround for the farmers in providing their develop, Agarwal said.
The VFCs are geared up with excellent lab, electronic weighing region, world wide web connectivity and operated by AgriBazaar staff. At these VFCs, farmers can right away upload their develop aspects on the buying and selling application or portal and come across customers promptly. Dependent on the best price, they make the trade directly, he said.
Even more, the company provides back-end logistics assistance to deliver the sold develop to customers and make sure well timed payment to the farmers by way of the AgriBazaar application, Agarwal said although stating that the pilot VFCs have received excellent preliminary response from the farmer community. The company is also wanting at opening VFCs in Andhra Pradesh, Karnataka and Bihar, mostly for maize.
Financials
For the economical year-ended March 2021, AgriBazaar witnessed a 200 per cent year-on-year expansion on its buying and selling system. The Gross Items Worth (GMV) of the agri-commodities this sort of as pulses, fruits and vegetables traded on its system stood at ₹20,000 crore, Agarwal said. However, the revenues attained by the company by way of transaction charge were being not disclosed.
For the existing economical year, AgriBazaar is targeting an improve of 50-sixty per cent in the GMV at over ₹30,000 crore, Agarwal said. “We are a credit card debt-absolutely free company and the investments will be funded by way of inside accruals,” he said.
Due to the fact its inception, the AgriBazaar application/system has connected all over ten,000 traders and processors and over 100 Farmer Producer Organisations (FPO) with its community of over a few lakh farmers across 16 States and union territories.
