National Agriculture Market (NAM) is a pan-India electronic trading portal that networks the existing APMCs / RMCs to create a unified national market for agricultural commodities. NAM creates a unified market through online trading platform, both at State and National level. This online platform reduces hindrance of free trading of the agri-commodities within different market areas. The NAM platform promotes uniformity by streamlining the procedures across the integrated markets. It removes lack of information between buyers and sellersIt also promotes:Real time price discovery, based on actual demand and supply,Transparency in auctioning process,Access to a nationwide market for the farmer, with prices commensurate with quality of farmers produce Online payment and availability of better quality produce at more reasonable prices to the consumer In West Bengal, 17 markets from 14 districts has been registered under e-NAM.
✓ Objectives of e- NAM
To create a national e-market platform for bringing transparency in transactions and better price discovery. Harmonization of quality standards of agricultural produce throughout India with assaying (quality testing) infrastructure in every market.
✓ Benefits of e-NAM
For farmers, ✓ NAM promises more options for selling the produce. ✓ Transparency in trade ✓ Access to better price discovery ✓ Access to more markets ✓ Real time information of prices of nearby markets ✓ Quicker payment ; For local traders, ✓ NAM will provide access to larger national market for secondary trading. ✓Extends access to other markets ✓ Access to real-time information related to arrivals & Trade ✓Ease of doing business through mobile based apps. ✓Access to online banking and payment system For bulk buyers, ✓ processers, exporters, NAM will enable direct participation in the local mandi trade, reducing intermediation cost. For consumers, ✓ Stable price ✓ Ease of availability of agricultural commodities For mandis/Markets, ✓NAM benefits in terms of reduction in book keeping and reporting system, which are generated automatically; ✓ Better monitoring and regulation of traders and commission agents; ✓Completely transparent system which eliminates any scope of intentional/un-intentional manipulation of tendering / auctioning process; For mandis/Markets, ✓Improvement in the market fee collection by means of accounting all the transactions that are taking place in the market; reduction in manpower requirements as tendering / auctioning process takes place through the system; ✓Analysis and forecasting of the arrivals and pricesRead More