Market Intelligence and Information Systems in Agriculture

Lecture 12: Market Intelligence and Information Systems- ICT enabled Supply-Chains and Value-Chains/ e-Marketing (e-NAM, AGMARKNET, etc.) Centurion University of Technology and Management, Odisha, India

Market intelligence and information systems (MIIS) are essential tools for farmers, traders, and other stakeholders in the agricultural sector. MIIS can provide insights into market trends, prices, and demand, which can help farmers make informed decisions about what to grow, when to sell, and how much to sell for. There are a number of different MIIS that are available to farmers and other stakeholders in the agricultural sector. Some of the most common MIIS include: Market reports: Market reports provide information on market trends, prices, and demand. These reports can be obtained from a variety of sources, including government agencies, trade associations, and private companies. Price forecasting: Price forecasting models can be used to predict future prices for agricultural commodities. This information can be used to help farmers make decisions about when to sell their crops. Market intelligence platforms: Market intelligence platforms provide access to a variety of market data, including prices, demand, and supply. These platforms can be used to track market trends and to identify new opportunities. Centurion University of Technology and Management, Odisha, India

Benefits of using MIIS in agriculture: Improved decision-making: MIIS can help farmers to make better decisions about what to grow, when to sell, and how much to sell for. This can lead to increased profits and improved efficiency. Reduced risk: MIIS can help farmers to reduce their risk by providing them with information about market trends and prices. This can help them to avoid making poor decisions that could lead to financial losses. Increased market access: MIIS can help farmers to access new markets for their products. This can lead to increased sales and profits. Improved productivity: MIIS can help farmers to improve their productivity by providing them with information about best practices. This can lead to higher yields and lower costs. Centurion University of Technology and Management, Odisha, India

AGMARKNET Objectives To establish a nationwide information network for speedy collection and dissemination of market information and data for its efficient and timely utilization. To facilitate collection and dissemination of information related to better price realization by the farmers. Market related info market fee, market charges etc. Price related info min, max, modal prices and arrivals. Infra related info facilities and services available to farmers. To sensitize and orient farmers to respond to new challenges and to improve efficiency in Agri marketing through regular training. Scheme commenced in March 2000. Principal Market Yards 2416 Sub Market Yards - 825 Database created covering 300 commodities and 2000 varieties. Networking involves providing hardware, software, connectivity and training to each market node. No of hits - > 1.6 crore Centurion University of Technology and Management, Odisha, India

E-Nam e-NAM (National Agriculture Market) is a pan-India electronic trading portal that networks the existing APMC (Agriculture Produce Marketing Committee) mandis to create a unified national market for agricultural commodities. It was launched by the Government of India in April 2016. Information asymmetry: Farmers often do not have access to accurate information about market prices, which can lead to them being exploited by traders. e-NAM provides farmers with real-time information about market prices, so they can make informed decisions about when to sell their crops. High transaction costs: The traditional agricultural marketing system is characterized by high transaction costs, which can make it difficult for farmers to get a fair price for their crops. e-NAM reduces transaction costs by providing a single platform for buyers and sellers to interact. Inefficient market infrastructure: The traditional agricultural marketing system is characterized by inefficient market infrastructure, which can lead to delays in the sale of crops and losses for farmers. e-NAM improves market infrastructure by providing a modern and efficient trading platform. Centurion University of Technology and Management, Odisha, India

e-NAM has the potential to bring about a number of benefits for farmers, traders, and consumers, including: Better prices for farmers: e-NAM can help farmers to get better prices for their crops by providing them with real-time information about market prices and by reducing transaction costs. Improved efficiency: e-NAM can improve the efficiency of the agricultural marketing system by reducing delays in the sale of crops and by providing a more transparent and competitive market. Increased transparency: e-NAM can increase transparency in the agricultural marketing system by providing a public platform for buyers and sellers to interact. This can help to prevent exploitation of farmers by traders. Better market access: e-NAM can help farmers to access new markets for their products by providing a single platform for buyers and sellers to interact. Centurion University of Technology and Management, Odisha, India