e-NAM : Surge FY2024
Farm-gate, inter-mandi e-NAM sales show surge in FY2024.
- The total traded value of commodities on the digital platform using the farmgate model during April – January, 2023-24 has been Rs 79 crore compared to a very small amount traded last fiscal.
- eNAM platform is an online trading platform for agricultural commodities in India.
- It was launched in 2016 as a pan-India electronic trade portal linking agricultural produce market committees (APMCs) across all states.
- It was launched with the objective of integrating the existing Mandis into a “One Nation One Market” for agricultural commodities in India.
- It facilitates farmers, traders, and buyers with online trading in commodities.
- It provides for contactless remote bidding and mobile-based anytime payment for which traders do not need to either visit mandis or banks for the same.
- Small Farmers Agribusiness Consortium (SFAC) is the lead agency for implementing e-NAM.
- It functions under the aegis of the Ministry of Agriculture and Farmers’ Welfare.