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5 Tips To Boost ROI In Agriculture Trading Business

5 Tips To Boost ROI In Agriculture Trading Business

The Indian agriculture sector has come a long way since Independence in terms of agricultural production – from 135 million tons in 1950-51 to over 1300 million tons in 2021-22. Agricultural trading is how all these commodities reach the end user and generate profits for the producer as well as all the stakeholders in the agri-value chain. We have gone over agriculture trading business and the commodity trading scene in a previous article. In this article, we go over how to trade agricultural commodities on the Bijak app.

Bijak is India’s most trusted agricultural commodity trading app. It is a B2B marketplace for agricultural commodities that enables traders, wholesalers and food processors to discover counterparties, get better pricing, and trade with transparency and accountability. Bijak has created an online marketplace of verified agri-traders from across India through the proprietary rating tool that addresses the trust aspect by creating transparency in supply chain processes. It also provides a wide array of features that are useful for anyone in the agriculture trading business. Let’s see how you can leverage these features and expand your business on the Bijak app.

1. Complete your ‘Profile’ & add your counter-parties

Before you begin trading in agricultural commodities on the Bijak app, the very Preview (opens in a new tab)first thing you have have to do is complete your profile. This includes adding your name, company name, location, mandi, etc. Another overlooked item to add here is a clear profile picture since this profile is going to be viewed by traders from across India. You also need to add your role (Supplier/Buyer/Farmer) and the commodities you trade in. Adding commodities lets the app know what commodities are most important for you and these are fetched on priority when you access features like Bijak Market, Mandi Rates, etc. If you are a Buyer, it’s important to do your KYC too. This will be important when it comes to getting your Bijak Business accounts and for initiating payments on the app.

The next step to speed up business is to add the buyers or suppliers in your contact list to the app. They will receive an invite and you can trade with them once they join the app. You may be surprised to see how many of them are already registered on the Bijak app.

2. Check tips from successful traders

Most traders network and trade with those they like and trust. Trading on Bijak is no different, but sometimes we tend to forget it. Therefore, we have shared some exclusive tips that traders can quickly refer to before they connect with their counterparties. For example, once you list your commodities or your requirements on Bijak Market, you will receive calls. Most traders are not prepared for this. Therefore, we suggest that you be prepared for inquiry calls. Similarly, we suggest that you keep an introduction ready when you make calls too. Apart from these, you can view Buyer and Supplier specific tips based on your role on the app. The better you network on the Bijak app, the more quickly you can expand your business, and these tips will always come in handy.

3. Check mandi rates

Bijak shows the real-time mandi rates of 200+ agricultural commodities across 2000 Indian mandis. This is a valuable resource for any trader who wants to know the most competitive rates for his commodities across different regions. Plus, it is recommended to go over the rates once before uploading the commodities on Bijak Market or before initiating a call or chat to negotiate rates with a counterparty.

If you have listed your commodities in your profile, they will be fetched and displayed here to make trading in agricultural commodities easier for you.

4. Post daily

When you work in a mandi, you are supplying or buying commodities on a daily basis. Similarly, post the commodities you have for sale or the ones you require on a daily basis on the Bijak app. The Bijak app has been designed in such a manner that the Buyer and Supplier see only what is relevant to them based on the roles they choose. Therefore, if you are a Buyer, you will see the Quick Actions feature on the top asking you to Post Demand’. Once you scroll down, you will see more sections – What are you Buying today’ and Top Commodities On Sale Today’ (which shows what suppliers are selling that day based on the commodities listed on your profile). These are all ways in which you can access Bijak Marketplace apart from the Market’ button on the bottom navigation bar.

Similarly, if you are a Supplier, you will see a Post Supply’ tab on the Quick Actions feature and further down, What are you Selling today’ and Top Commodity Requirements Today’ sections respectively. The Top Commodity Requirements Today’ will show what commodities are required by Buyers from across India and these are fetched on priority so that you can quickly contact them, negotiate prices and create an order.

We suggest that you post complete details with good commodity pictures in the forms provided. This increases your chances of connecting with serious traders. We also recommend that you have product details like volume, variety, rates and good commodity pictures ready with you. This way, you can share additional information over chat on Bijak Market while negotiating a deal.

5. Make quick payments

Payments are important for efficient Agriculture Trading Business. One of the biggest plus points of trading on the Bijak app is the quick payments you can make at any time, even weekends. Bijak app offers secure payment gateways. With the addition of IMPS, NEFT, RTGS payment transfer methods, the traders can now make timely secure payments of lakhs of rupees and even inform the counterparty when they will receive it. These make the trade more efficient and reflects positively on the trader. It will also affects their ratings positively.

To ensure secure payments, we have incorporated Penny Drop Verification. Now Rs.1 is first deposited in the beneficiary’s account to confirm the account details.

By default, all traders on the Bijak get access to Bijak Pocket account. They can make payments from it after they do their KYC. To take business to the next level, Bijak offers Bijak Business Accounts too. This is given on the basis of past transaction and payment history.

As you just saw, there are various things to consider while running an agriculture trading business. Understanding buying & selling patterns, customer preferences, commodity demand and supply, regional rate differences, etc. are important. But it’s just as important to leverage all the features on the Bijak app to successfully establish a thriving pan India commodity trading business. Bijak has an extensive FAQ section on the app as well tutorial videos on YouTube to help traders with the initial handholding. The app is also available in 11 languages to help the traders. Apart from this, the app is easy to use and has been created by taking customer requirements into consideration. We have ample user testimonials to show how it has changed the business trajectory of agriculture traders.

We hope you enjoyed reading this article. Please leave your comments below and like and share this article. And finally, don’t forget to follow the Bijak blog for weekly articles by experts.

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