Agri Business

Samunnati’s gross transactions cross ₹10,000 cr mark

Our Bureau | | Updated on: Jan 10, 2022
Anil Kumar SG, Founder and CEO, Samunnati

Anil Kumar SG, Founder and CEO, Samunnati

Partners with NAFED arm to support FPOs

Samunnati, an agri-value chain said on Monday that its gross transactional value has crossed the ₹10,000-crore mark, with half of it coming in over the past 18 months.

“The 10,000-crore GTV mark is a significant milestone in our journey to enable the agri value chains to operate at a higher equilibrium. We are grateful to our customers, partners, stakeholders and above all, the farmers for their sustained faith and support over the past years,” said Anil Kumar S G, Founder and CEO in a statement.

“We are blessed to have an enabling cohort of investors, lenders and other stakeholders who have encouraged us to move forward on our mission. We strive to make agriculture profitable and sustainable for the millions of smallholder farmers that ensure our nation’s food security. Currently, Samunnati has access to over 1,500 farmer collectives with a member base of over six million farmers and envisions impacting one in every four farming households through its network by 2027,” Kumar said.

Recently Samunnati and the Federation of Indian FPOs and Aggregators (FIFA, one of the subsidiaries of NAFED) also signed a Memorandum of Understanding (MoU) to support FPOs. FIFA is a national level association of more than 100 producer organisations and primarily works towards sustainability of its member organisations through market linkage and logistical support.

As part of the MoU, Samunnati and FIFA will guide the FPOs through various training modules focused on their capacity building and institutional development, deploy Samunnati’s FPO grading and assessment tool, give them access to Samunnati’s digitization suite, provide market linkages and financing solutions.

Published on January 10, 2022

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