FarmBracket-(An Online Market system for Farmers and Buyers)
Our Project “FarmBracket “is an open online market system that enables smallholder farmers to sell their produce on time and avoid spoilage
I confirm that I am fully aware of the eligibility criteria, and based on its description, I am eligible to apply to the CSV Prize 2017.
People and Planet Life Foundation
Established (the solution has passed the previous stages and demonstrated success)
Annual budget in 2017 (USD)
Number of beneficiaries impacted so far
Nonprofit, NGO, or citizen sector
Headquarters location: Country
Headquarters location: City
Location(s) of impact
Southeast region- Imo, Abia, Ebonyi, Enugu
South-south region: Rivers, Akwa ibom, Cross River
North central: Benue, Niger, Kogi
Problem: What problem is this initiative trying to address?
In Nigeria, 45% of their farm produce spoil before sell as a result remoteness and inadequate market infrastructures. Agricultural Sample Survey Nigeria 2003 shows that 85% of the smallholder farmers in Nigeria rely on the remote rural market with only one market day per week this exacerbates low productivity among farmers. More worrisome is that many of the farmers in Nigeria are currently passive participants, often obliged to sell low, with little choice of where they conduct transactions, with whom and at what price
Solution Summary: What is the proposed solution? What do you see as its most promising aspects for creating shared value?
“FarmBracket “is an open online market system that enables smallholder farmers to sell their produce on time and avoid spoilage, through the utilization of timely, and relevant low cost tools for information, communication and trade transactions with prospective buyers.
FarmBracket online market system enables potential buyers to easily access farmers profile based on the quantity and quality of produce available for takeoff. The system will achieve this through the use of an SMS to Web platform that automatically enable rural farmers simply and readily update their status based on the quantity of goods ready for sale by an “Easy Go Dial Code” which we will provide for them on their phones.
Our goal is to build a bracketed channel of farm producers, processors and buyers through one system. Our strategy is to implement a methodology that drives Agri-ICT Market to the last-mile farmer in Nigeria and Africa through Phone SMS to Web.
Impact: What is the impact of the work to date? Specify both the social and the environmental impact of your work
Currently, we have a portfolio of 6,000 farmers and buyers registered with us in the FarmBracket system. in the following food crops value chain: Oil Palm, Rice, Maize, cocoa, cassava, Millet, Fish, breadfruits, Poultry, fruits and vegetables etc. to sell of their produce.
The broader impact is divided into qualitative and quantitative impact
1. 43% of farmers harvested produce saved from spoilage
2. increased production of food crops
3. Adequate supply of fresh farm products at economically affordable prices through availability of improved varieties, production and processing.
1.0. 45% percent income lost by farmers recovered
2.0. Increased local employment options as diverse value chain of food produce is generated as a result fresh harvested cassava at disposal
3.0. Cleaner environment due to limited harvested farm produce spoilage dumps.
Financial sustainability plan: How is this initiative financially supported? How will you ensure its financial sustainability long-term?
The project relies of individual donations, gifts, grants and corporate contributions to scale up the project across Nigeria.
For any of our users that want to view a farmer’s websites pays a monthly subscription of 100 Naira a month.
For our registered farmers and prospective buyers, we will charge them a monthly subscription of 50 Naira (0.5USD) for daily and weekly information that will offer but advertisement for farmers is free.
For any transaction made through our online portal will charge a minimum of 100 Naira. Payments transaction fee depends on the quantity of goods purchased or to be delivered.
50% of our generated income is been be used for research development of our platform, development of simple smart phone application for farmers.
Unique value proposition: What makes your initiative innovative? How does your project differ from other organizations working in the same field?
FarmBracket is innovative when compared to others because:
Firstly, It uses a low cost technology tool, to bring farmers and buyers in one online market at the same time with little receptions on their phones through our SMS to Web Platform.
Secondly, through easy trading, information and knowledge dissemination, FarmBracket makes farmers active players in the market: which means that they will have full value of their production, and an ability to establish a farm-gate marketing decision.
Founding story: Share a story about the "Aha!" moment that sparked the beginning of this initiative.
I am a farmer and agriculture is the sole occupation of my family just like other thousands and millions of people in my community, state and Nigeria as a whole. Farmers contribute more than 24% of the Nigerian GDP yet this group is the poorest group in the society. As a farmer, one thing that comes in mind of every farmer with bountiful of harvest is spoilage and ability to make out right sells immediately.
These fears reduce their ability to see agriculture as a profitable venture. I regret to say that inspite of efforts made by the Nigerian government to increase the commercialization of agricultural produce, yet many smallholder farmers are currently passive participants often obliged to sell very low with no choice of where they conduct transactions, with whom, when and at what price.
The passion to mitigate this problem begins the FarmBracket Initiate.
Where did you hear about the Nestlé Creating Shared Value Prize?
Upon recommendation from others