Gorgon Nut, Sago to be Auctioned on e-RaKAM
Move aimed at better price recovery for the two crops which will benefit farmers in north Bihar and Tamil Nadu
Kolkata: MSTC and Central Railside Warehouse Company have decided to auction gorgon nut and sago through their newlylaunched e-auction platform e-RaKAM (Rashtriya Kisan Agri Mandi), a move aimed at better price recovery for the two crops which will benefit farmers in north Bihar and Tamil Nadu respectively.
“We are targeting .₹ 1,000 crore of trading volume in the current financial year,” MMTC chairman BB Singh told ET. “We are targeting a figure of not less than .₹ 6,000 crore in the next five years.”
The e-auction will help farmers consolidate their produce and sell consolidate produce MSP and higher prices to buy directly middlemen
at minimum support price and higher prices. The buyers will be able to directly buy from the farmers through e-booking and e-procurement methods, besides being able to auction the surplus through e-auction, thus helping farmers sell their produce directly to the organisations and eliminate middlemen. Singh said gorgon nut and sago crops are the priority at e-RaKAM and they are in touch with the Tamil Nadu government’s ‘Sago Serve’ department, which will put sabodana or sago on e-RaKAM platform whose volume can be more than .₹ 300 crore. “We are also targeting sale of gorgon nut on e-RaKAM which is grown only in north Bihar and is a niche product,” he said. MSTC and Central Railside Warehouse Company have also set their sights on other agricultural products such as vegetables, fruits and flowers, particularly in the northeast, where they hope to do business of more than .₹ 1,000 crore business in the next financial year. “With GST, logistics cost has come down nearly 20% and there is ease of doing business across states. This will definitely facilitate the agri business through our portal and help us achieve our target,” Singh said.
Singh said the plan is to have 45 e-RaKAM centres across the nation, with both MSTC and Central Railside Warehouse Company offices put together in the initial stage, and the number will grow over time. “We are equipping these centres to facilitate farmers from nearby areas for getting training on how to use this portal and we will be giving them inputs with regard to the agri businesses,” Singh said. “We are planning to tie up with India Post – which has more than 1,55,000 offices throughout India – to expand our reach for the lastmile connectivity in villages.”
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