Commerce quantity of Indian FPOs on e-NAM doubled in FY24; progress more likely to maintain

The Indian authorities’s digital–Nationwide Agriculture Market (e-NAM) platform has captured the eye of the farmer producer organisations (FPOs) significantly after a separate module was launched to solely facilitate their commerce. Because of this, the traded quantity elevated to about 42,875 tonnes in the course of the 2023-24 fiscal, practically double from about 21,540 tonnes in 2023-23.

Although it’s negligible contemplating the entire quantity on the platform recording practically 195 lakh tonnes, the Authorities is hopeful of an identical surge yearly attributable to a low base impact in addition to numerous initiatives launched for the FPOs and e-NAM. As a lot as 3,759 FPOs are already registered with e-NAM, thus far whereas the federal government targets to make sure all received registered.

“As soon as the inter-state commerce is made free from state management by a legislation, FPOs may have a serious function to play on the e-NAM platform since a number of of them are additionally promoted by corporates,” a supply mentioned, including the expansion potential is limitless attributable to low base impact. Apart from, there are additionally a number of different avenues opening up for FPOs within the non-public sector to promote their produce in bulk at higher charges, the supply mentioned.

• Additionally learn: Centre plans a brand new FPO coverage after 11 yrs, to hyperlink them with trade for direct sale of farm produce

ITC’s agtech platform

Asserting the monetary outcomes for This fall 2023-24, ITC on Thursday mentioned that over 1,650 FPOs encompassing greater than 1.5 million farmers have been added to the ITCMAARS community. It mentioned the corporate has efficiently scaled up ITCMAARS, a crop-agnostic full stack agtech platform, along with a “phygital” ecosystem throughout 10 States.

“By synergistically integrating NextGen agri applied sciences, this initiative is creating a sturdy ecosystem to seamlessly ship hyperlocal and personalised options to the farming group, whereas creating new and scalable income streams, strengthening sourcing efficiencies and powering the Firm’s world-class Indian manufacturers,” ITC mentioned.

In the meantime, e-NAM’s commerce quantity has registered 4 per cent progress to 194.29 lakh tonnes (lt) in FY24 from 186 lt in FY23. In worth time period, the digital commerce was over Rs 78,424 crore in FY24, up 5 per cent from Rs 74,656 crore in FY23. There was 124 per cent progress in final 5 years as the entire transactions had been to the tune of Rs 34,940 crore in 2019-20.

• Additionally learn: Odisha FPOs start business cargo of recent produce to different nations

Impartial physique on playing cards

The e-NAM platform permits on-line buying and selling in 219 agricultural, horticultural and different commodities notified by each Centre and State governments.

The Centre is contemplating to enact a farm legislation that may deal with inter-state buying and selling and assist farmers promote their produce on-line at distant locations, outdoors their state boundary. The plan is to arrange an unbiased regulatory authority to border guidelines and laws, together with charges, for facilitating all inter-state buying and selling. Nevertheless, the commerce inside the State will likely be untouched and the native authorities may have full management over it, sources mentioned.