Singapore-based agri-business firm Olam Agri has begun providing interest-free advance to farmers in India through a digital app - Jiva AgriCentral, a top official of the company has said. 

The app, one of largest farm advisory platforms in India, achieved the milestone of roping in eight million farmers last year.  

“We are providing credit without interest to farmers using agtech via our app Jiva. Once farmers sell their produce, we adjust the payment against the credit offered,” said N Muthukumar, Olam Group CFO and CEO - Operations, Olam Agri.

Reaping agtech advantage

Addressing a conclave of farmer producer organisations (FPOs), organised by agri enterprise Samunnati near Hyderabad last week, Muthukumar said farmers should take advantage of agri technologies and techniques through FPOs. 

Olam International launched its digital app Jiva in 2020 to empower smallholder farmers across the world. The objective of launching the app was to build an ecosystem founded on innovation to improve the lives of farmers by providing access to the best possible advice, products and trade services.

Muthukumar said rapid urbanisation in India could result in the country not having enough farmers to produce in future. Efforts should be made to help farmers get remunerative returns so that they will stay in the sector. 

The Olam Group official said though India was the leading rice exporter of rice, it should focus on the quality that is produced. “It should change from low quality, mass quantity to high quality,” he said.

FPOs can leverage agtech and join hands with the sector’s stakeholders to address the problem, he said.