E-trading platform helps K'taka farmers earn 38% more income

E-trading platform helps K'taka farmers earn 38% more income

E-trading platform helps K'taka farmers earn 38% more income
Karnataka farmers have realised 38 per cent more income in 2015-16 from sale of agri-commodities through the e-trading interface Unified Market Platform (UMP), according to a Niti Aayog report.

UMP, an initiative of Rashtriya e-Market Services Ltd (ReMS) - a joint venture between NCDEX e-Markets Limited and Karnataka government, was set up in 2013-14 much before the Centre rolled out eNAM, almost a similar version for the entire country.

"While all provisions of UMP are not yet fully operational, complete implementation is expected to have a much larger impact on farmer incomes," noted the Niti Aayog report titled Doubling Farmer Incomes.

The report analysed the prices received by farmers between 2013-14 (the year preceding the functioning of UMP) and 2015-16 (the first year after creation of UMP).

The data showed that the modal prices of agri-produce on UMP in Karnataka witnessed much higher increase than the wholesale rates of the same commodity in the country.
"The average increase was 38 per cent in nominal terms and 13 per cent in real terms, after being deflated by WPI of the concerned commodity," the report said.Copra, Black gram, Tur, Bengal gram were commodities which gave among the highest realisation, it added.
"It is heartening to see the government lauding our efforts in developing the primary markets. We remain committed to use the power of technology and markets to bring about a positive change in the lives of farmers by reforming the physical markets in the country and helping central and state governments in the nation's food security and welfare priorities," NeML MD and CEO Rajesh Sinha said in a statement.
Currently, 157 mandis in Karnataka use e-trading, e- permits, e-payments, and scientific grading and assaying services.
In Andhra Pradesh, the company in association with the state government and ReMS has brought the largest 10 APMC markets in the state, including Guntur, to online trading. It will now be handing over the same to the state government.