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

The Economic Times - - Finance & Commodities - Su­tanuka.Ghosal@ times­group.com

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.”

Help farm­ers Help them sell at Buy­ers will be able Will help elim­i­nate

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