AgriBazaar to expand footprint through village fulfilment centres

AgriBazaar, the digital market for farm merchandise, is increasing its on floor existence in about 75 villages of Madhya Pradesh, Maharashtra and Rajasthan this yr. The enterprise will be environment up fulfilment centres in twenty five villages in each individual of these 3 States to consider the agri-market to the farmer’s doorstep.

“We will be investing all-around ₹9 crore in increasing village amount fulfilment centres and strategy to retain the services of 100 a lot more workers this yr,” reported Amith Agarwal, CEO and Co-Founder, AgriBazaar.

The enterprise already has established up some twenty five village fulfilment centres (VFCs) on a pilot foundation across MP and Maharashtra, which are built to be certain a brief turnaround for the farmers in promoting their make, Agarwal reported.

The VFCs are outfitted with top quality lab, electronic weighing area, online connectivity and operated by AgriBazaar personnel. At these VFCs, farmers can immediately upload their make particulars on the buying and selling application or portal and locate purchasers straight away. Dependent on the greatest rate, they make the trade instantly, he reported.

Even more, the enterprise delivers back again-end logistics assist to deliver the bought make to purchasers and be certain timely payment to the farmers by way of the AgriBazaar application, Agarwal reported even though stating that the pilot VFCs have obtained great initial response from the farmer community. The enterprise is also searching at opening VFCs in Andhra Pradesh, Karnataka and Bihar, primarily for maize.

Financials

For the economic yr-finished March 2021, AgriBazaar witnessed a 200 per cent yr-on-yr progress on its buying and selling system. The Gross Products Price (GMV) of the agri-commodities these kinds of as pulses, fruits and greens traded on its system stood at ₹20,000 crore, Agarwal reported. Even so, the revenues attained by the enterprise by way of transaction charge were being not disclosed.

For the existing economic yr, AgriBazaar is focusing on an increase of fifty-60 per cent in the GMV at around ₹30,000 crore, Agarwal reported. “We are a debt-free of charge enterprise and the investments will be funded by way of internal accruals,” he reported.

Given that its inception, the AgriBazaar application/system has connected all-around 10,000 traders and processors and around 100 Farmer Producer Organisations (FPO) with its community of around 3 lakh farmers across 16 States and union territories.