Moneycontrol Be a Pro
Get App
Last Updated : Mar 29, 2019 08:20 AM IST | Source: PTI

Commerce ministry launches blockchain-based coffee e-marketplace to help farmers get fair prices

The blockchain will also reduce the number of layers between coffee growers and buyers and help farmers double their income, the ministry said in a statement.

The commerce ministry launched a blockchain-based coffee e-marketplace to help farmers integrate with markets so that they can realise fair prices for the commodity.

The blockchain will also reduce the number of layers between coffee growers and buyers and help farmers double their income, the ministry said in a statement.

"This pilot project will help integrate the farmers with markets in a transparent manner and lead to realisation of fair price for the coffee producer," Commerce Secretary Anup Wadhawan said in the statement.

Close

It said that India is the only country in the world where entire coffee is grown under shade, handpicked and sun dried.

"Indian coffee is highly valued in the world market and sold as premium coffees. The share of farmers in the final returns from coffee is very meagre," it added.

The blockchain-based marketplace app is intended to bring in transparency in coffee trade and maintain the traceability of Indian coffee from bean to cup so as the consumer tastes real Indian coffee and the grower is paid fairly for his produce, it added.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Mar 29, 2019 08:07 am
Loading...
Sections
Follow us on
Available On