Lahore, July 06, 2023: In line with the vision
of helping farmers increase their profitability, FasalPay, a leading
agri-fintech platform and Kissan Gudam, the providers of advanced agri-storage
technology have joined forces to maximize post-harvest value for the farmers.
This collaboration aims to provide farmers with a comprehensive solution that
encompasses crop storage, agri-inputs, and affordable agri financing.
Also read: Sarsabz Fertilizers shines bright at the Pakistan Digital Awards 2023
Farmers
in Pakistan are prone to distress sale of commodities immediately after harvest
during the supply glut when prices are lower as they have to repay their loans
to the banks or informal financiers, and to buy inputs for the next crop without
wasting any time. Absence of feasible warehousing solutions means they can only
store the commodities in traditional sub-optimal conditions resulting in weight
loss and quality degradation, so they prefer to sell ASAP.
Aggregators/middlemen exploit this situation and store commodities in large
quantities as it is almost 100% certain that prices start increasing a few
weeks later and bring about 20-50% appreciation in 3 to 6 months’ time.
Now
farmers can securely store their crops in Kissan Gudam's state-of-the-art
hermetic storage facilities. Simultaneously, they can leverage FasalPay's
end-to-end agri-services which include affordable credit, provision of
agri-inputs, expert advice, and fair sale of produce. This integrated approach
enables farmers to reduce cost of farming and fetch better prices of produce
leading to higher profits.
Habib
Saqib, Founder and Head of Business at FasalPay said, “We are thrilled to join
hands with Kissan Gudam to offer farmers a holistic solution. This partnership
enables us to offer our portfolio of services to farmers who cannot access
formal credit because of farming on leased lands, or don’t want to get their
lands mortgaged by the banks. By putting their commodity as a collateral, they
not only get quicker access to affordable credit but also benefit from higher
earnings by avoiding distress sales.”
Farhan
Tahir, Co-Founder and CEO of Kissan Gudam said, “We are committed to increase
farmer’s income by revolutionizing crop storage, minimizing post-harvest losses
and mitigating food security challenges faced by our country. Farmers cannot
only store their commodities safely but also have access to a wide range of off
takers to sell digitally. We are delighted to partner with FasalPay who shares
our vision and are committed to uplift Pakistan’s agri ecosystem.”