We aim to create an online auction for farm produce.
This will be a game changer as the farmer provides a minimum reserve price for his stock with a photograph and specifications of his produce. He also states a selling price which he pre fixes. If a purchaser is willing to give him that price then the auction does not go through .
Each participant in selling and purchasing is given a code and therefore none of them are in touch with each other. An e wallet is used where payment is first made into an account and a challan is generated with the same value points. These value points are exchanged in the transaction and these can be encashed with real money at the end of the trade.
The purchaser is able to buy only as per his capacity of e wallet .there is no credit given by the farmers. The transaction is digital and clean and transparent. In time to come a detailed market rate for the average can be taken for almost every item sold on it. Purchase trends as per a season can be made.
Growers in various areas can be given this information to take a call on the produce they should grow in a particular season and the quantity that got sold the previous year.
Since there is no credit there is no over trading and no wastage .
It does not require the material to reach a nodal point and can be transported directly to the seller.
All participants will be given a rating with relation to their transactions and their size as well as quality of the produce.