Agri trade on e-NAM surges by 32%

The turnover of the electronic National Agriculture Market (e-NAM) has witnessed a significant rise of 32% to reach Rs 74,656 crore in 2022-23.

 

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The e-NAM platform has been in operation for seven years, and both farmers and buyers are increasingly utilizing it for trade within and outside their respective states. The platform’s turnover is expected to exceed Rs 1 trillion in the current fiscal year, marking a significant milestone in the digitalization of India’s agriculture sector.

The sales turnover on the e-platform amounted to Rs 56,497 crore in FY22, which is a significant increase from the sales worth Rs 31,366 crore reported in the previous fiscal year. It is estimated that the annual trade in agricultural products, excluding milk and marine products, exceeds Rs 5 trillion.

The e-NAM platform witnessed a significant increase in trade volume during FY23, with 18.6 million tonnes of agricultural and allied sector commodities traded, a 41% rise from the 13.2 million tonnes traded in the previous fiscal year.

This substantial increase in trade volume on e-NAM signifies that the platform has succeeded in its objective to enhance farmers’ market access and create a unified national market for agricultural produce, ultimately contributing to the improvement of farmers’ income.

According to sources, the previous fiscal year witnessed the initiation of inter-state trade via the e-NAM platform on various commodities, with farmers from Uttar Pradesh, Kashmir, Maharashtra, and Rajasthan selling products such as potato, apples, mustard, ragi, silk cocoon, chana, soyabean, and jeera to buyers in Kerala, Odisha, Jharkhand, Madhya Pradesh, and Tamil Nadu.