Following its early success in Maharashtra, Thomson Reuters today launched Reuters Market Light (RML) in Punjab, with over 3,000 subscribers already sold. RML, which brings commodity prices, crop and weather data to Indian farmers via mobile phones, is planning to introduce mobile information service for the agricultural community of Rajasthan and Gujarat also.
It has signed a memorandum of understanding (MoU) with the Punjab Mandi Board for sourcing market data from APMC Mandis across the state.
Punjab Chief Minister Sardar Parkash Singh Badal inaugurated the service that provides information on 17 crops/commodities including cotton, maize, paddy (Basmati and PUSA), wheat, potato, cabbage, pea, cauliflower, green chilli and kinnow. It will provide market data on these crops from 60 markets across the state.
Amit Mehra, managing director of RML, said: “Reuters plans to expand to a third Indian state by the end of 2008. We are looking to launch our services in Rajasthan and Gujarat. Following its early success in Maharashtra, we find that more subscribers are opting for 12 month contracts, as opposed to the original three month option.”
He addeed that ‘The Crop advisory Tips’ are sourced from the Indian Council for Agriculture Research and/or Punjab Agricultural University (PAU). RML is in the process of becoming associated with PAU to offer best advisory tips in the most timely manner. RML was launched in October 2007 in Maharashtra where it has sold over 60,000 subscriptions. It is estimated that due to RML’s accurate, timely information, the state has achieved Rs 100,000 of additional profits on the sale of crops.
He added, “India’s farming community is one of the largest in the world yet it remains a relatively opaque market. RML provides crucial customised agricultural information to help farmers maximise their productivity and increase their returns.”
RML would offer customised, localised and personalised information to farmers that would help them make informed decisions. The information is sent via text messaging in Punjabi language. The RML service is independent of mobile operators and handsets.
Also, daily weather updates for the next 24 hours, which includes minimum temperature, maximum temperature, probability and precipitation of rainfall and relative humidity are available. Farmers can plan inter-cultural operations accordingly as the weather forecasts address the production risk.
