Agritech platform Agribazaar on Tuesday signed a pact with state-owned Central Warehousing Corporation (CWC) to provide e-auction and sales facilitation services for the agri-commodities stored at its warehouses across the countries.
CWC, a public warehouse operator that provides logistics support to the agricultural sector, operates over 400 warehouses across India with a total storage capacity of 101.44 lakh tonnes.
According to the agreement, any seller whose commodities are in CWC premises can sell on Agribazaar”s e-portal, either by registration or by submitting e-KYC documents 24 hours before the e-auctions.
Agribazaar will arrange buyers by facilitating marketing campaigns on various electronic and traditional platforms.
It will release the amounts to the sellers as per the final weight of their sale from the proceeds received from buyers.
Along with CWC, Agribazaar will also provide other services, including grading, assaying, testing and other facilities across all warehouses.
The partnership is in line with the government”s aim to foster greater digitalisation in agriculture.
In a statement, Agribazaar said this facilitates direct consumer access to farmers/sellers and helps in fetching fair, quick and transparent prices for commodities.
In addition, the electronic processes ensure that operations run smoothly, and better understand the real-time demand-supply dynamics of agri commodities, it said.
It is especially beneficial amid the post-pandemic uncertainties of lockdowns and health risks associated with physical dealings, it added.
CWC Managing Director Arun Kumar Shrivastava said, “I believe in the post-COVID-19 world, digitisation is a reality and we are geared up to partner with young agri-tech companies to provide better services to our customers.”
Agribazaar co-founder and Managing Director Amit Mundawala said this collaboration will be a milestone in transforming the lives of farmers.
Source: OUTLOOK
