66 FPOs supported by GoK and NABARD for Unified Market Platform (UMP)

Approximately 66 Farmer Producer Organizations (FPOs) supported by the Government of Karnataka (GoK) and National Bank for Agriculture and Rural Development (NABARD) were part of the Unified Market Platform (UMP) of Rashtriya e-Market Services (ReMS).

As a result, 44,000 traders registered across 162 markets will now be able to access these FPOs and will promote the trading of more than 60 agricultural commodities, enabling them to obtain better returns on their farm produce through transparent price discovery and realisation.

Also Read: 54 FPOs and 15 top agribusiness entities come together for Samvad for Safalta discussion

Dr. Manoj Rajan, Managing Director and Chief Executive Officer (MD and CEO) of ReMS, addressing the event Dr. Rajan, highlighted on the occasion that ReMS strives to establish transparent price discovery, test facilities, capacity building for stake holders, etc, and it also emphasises increased competition, improved price implementation, simplification of market processes and the availability of real-time product information to market participants.

Niraj Kumar Verma, Chief Executive Officer (CEO), NABARD, Karnataka, has said the Unified Agricultural Markets bring efficiency and transparency to the agricultural marketing system through the “use of technology and the creation of a free market for agricultural products to help farmers obtain the best price for their produce.”

Also Read: NABARD estimates15.46 % higher credit potential than the previous year

Karnataka’s path-breaking reform of agricultural marketing is recognized as the country’s leading player, and the central government is largely adopting the Karnataka model for its national agricultural market program and schemes.

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