KARACHI, 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.
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.”
