Commerce min launches blockchain-based coffee e-marketplace to help farmers get fair prices
The commerce ministry Thursday 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.
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 ..