New Delhi, November 16, 2021: India’s fastest growing agri-fintech platform Origo, through its platform e-Mandi has set up eight farmer procurement centres (FPCs) and has enrolled on private mandis to provide a national market for farmers.
e-Mandi’s digital platform will be operating these FPCs and private mandis which will provide access to the national market with buyers across commodities and across the country registered with e-Mandi
e-Mandi will also sign MOUs with twenty farmer producer organizations (FPOs) so that farmers working with FPOs can access the services offered at the Private Mandi and also enrol the farmers and FPOs on the digital platform for services and national market access .Through e-Mandi, an organized system of procurement and warehousing, offering a price discovery platform, will further enhance the farmer’s income generation by Rs. 1,000 per month, which in some cases could enhance their net income by upto 20%.
Origo aims to facilitate procurement and income generation by setting up FPCs and FPOs across four states in India. The platform intends to impact around 25,000 farming families by enabling easy storage and trading of agricultural commodities, including soybean, wheat, mustard seed, pulses, bajra, and groundnut.
Origo also plans to procure around 3,00,000 MT of agri-commodities this year. Leveraging its digital auction platform, e-Mandi, Origo facilitates better price discovery and seamless commodities trading while offering forward (to sell) and reverse (to buy) auction services. By enabling end-to-end supply chain solutions, the platform aims to enhance income and liquidity among the producers and other agri-stakeholders.
Says Sunoor Kaul, Co-Founder, Origo Commodities: “Our e-Mandi platform has seen vast traction from agri-stakeholders due to its seamless trading and transactional processes. The newest addition of farmer procurement centers and producer organizations will further ease agricultural processes and increase farmers’ income. At Origo, our focus has always been to bolster the efficacy of the Indian agricultural sector, and we are confident that our new venture will add more liquidity to the industry.”
Co-founded in 2010 by Sunoor Kaul and Mayank Dhanuka, the company set out to create contemporary commodity finance solutions for the untapped agriculture space, which had been largely ignored by the capital markets