Agri Updates by SMS

[rgiridhar]

Business Standard 30-Sep-07

As many as 4,000 farmers have already signed up to receive commodities updates through SMS from Reuters--a service the news agency has yet to launch officially.

The service, being offered under the aegis of Reuters Market Lites, provides updates on commodity market trends, weather, crop patterns and derivatives markets for Rs 60 a month.

The service is currently available on an experimental basis and will be formally launched across Maharashtra by Union Agriculture Minister Sharad Pawar on Monday.

The service will be product- and market-specific. The farmer will not be loaded with irrelevant information, said a senior company executive.

Take the case of a farmer from Nandgaon in Jalgaon district, who may be interested in knowing the local rates of banana but have no interest in cotton or soybean. Similarly, a farmer in Wardha district of Vidarbha may be interested in the cotton and soybean prices. Once the customer specifies the products and geographical markets, Reuters will provide updates according to individual needs.

To ensure a wide reach, the company has tied up with all the mobile service providers in Maharashtra. It will also join hands with district co-operative banks and outlets selling farm equipment and consumables such as pesticides, seeds and fertilizers.

The company is targeting a customer base of 40,000 to 50,000 by the end of this year, the executive added.

A farmer can choose the market, as also decide on whether he should hold on his product after all, as he will be armed with market intelligence. The access to market intelligence will definitely help in ensuring the best deal, said S K Goel, secretary of state agricultural marketing department.