Launch of Farmers’ Online Market System

Food Corporation of Bhutan Limited (FCBL) in collaboration with Royal Securities Exchange of Bhutan (RSEB) have launched the Online Farmers’ Market System this afternoon in Phuntsholing. It is as an extension to the existing Bhutan Commodities Market Initiative. This is a special initiative targeted to tackle the COVID-19 pandemic situation. It is broadly aimed at mapping production, spotting market and linking the parties by disseminating market information across the country. The online farmers’ market system has two modules; the first one is a simple and straightforward online market platform which will serve as an information hub for the buyers and sellers. Farmers are expected to upload the details of their produce with their contact information to attract potential buyers without having to involve any third party. Once they make the deal online, the logistics and the payment are expected to be negotiated between the two parties based on their mutual convenience. The platform is meant to serve as digital market place solely for the domestic market for free of charge. The second module of the platform is an aggregator model where FCBL will act as the aggregator to handle logistics and payment. In this platform, FCBL will play a central role starting from purchase to logistic to payment settlement to export. FCBL hopes to roll out the programme as soon as they receive necessary support and go-ahead signal from the government. The key aspect of this arrangement is to ensure that COVID-19 containment protocols are followed strictly at all levels which is absolutely crucial. The online farmers market system will be operated upon endorsement of the proposal and associated support by the Government.

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