ENA Sectors 2024-03-04 14:10:25 <p><span style="font-size:14px"><strong>New Delhi, Mar 4 (KNN)</strong> Trade on the electronic-National Agriculture Market (e-NAM) is anticipated to reach a staggering Rs 80,000 crore in the fiscal year 2023-24, as more states facilitate the exchange of agricultural commodities through this digital platform.</span></p> <p><span style="font-size:14px">During April-February of the current fiscal year, the turnover on e-NAM has already surpassed Rs 70,000 crore, with a noticeable surge in inter-mandi and inter-state trading of agricultural commodities, reported FE.</span></p> <p><span style="font-size:14px">Officials from the agriculture ministry have emphasised their current focus on enhancing electronic payments to farmers and promoting trade between different mandis and states through e-NAM.</span></p> <p><span style="font-size:14px">Presently, e-NAM integrates 1,389 mandis across 27 states, signifying a gradual shift to digital platforms for better price discovery by farmers.</span></p> <p><span style="font-size:14px">While farm gate, inter-state, and inter-mandi trade constitute a relatively small portion of the total turnover at Rs 70,445 crore, there has been significant growth in these areas, indicating the platform's increasing utility.</span></p> <p><span style="font-size:14px">A notable development is the adoption of the farm gate purchase model, where farmers sell commodities directly without physically transporting them to mandis.</span></p> <p><span style="font-size:14px">This approach has seen a total traded value of Rs 85 crore during April-February 2023-24, compared to minimal activity in the previous fiscal year.</span></p> <p><span style="font-size:14px">Several states, including Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Madhya Pradesh, Rajasthan, Tamil Nadu, Uttar Pradesh, Odisha, Himachal Pradesh, and Jammu and Kashmir, have embraced this model.</span></p> <p><span style="font-size:14px">Additionally, there has been a remarkable 145 per cent spike in inter-mandi trade on e-NAM, reaching Rs 1,485 crore in the April-February period of the current fiscal year.</span></p> <p><span style="font-size:14px">Finance Minister Nirmala Sitharaman highlighted in her interim-budget speech that e-NAM serves 18 million farmers, with a trading volume of Rs 3 trillion.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36926 https://knnindia.co.in/news/newsdetails/sectors/agri-trade-turnover-at-e-nam-to-reach-rs-80000-crore-in-fy24 2024-03-04 14:10:25 knnindia.co.in