The cursor reads tell your story, and so it begins
From our years of experience, my team and I found out that agricultural produce lacked a method for homogeneous pricing. From Northern Africa; Sudan, Egypt to Eastern Africa; Kenya, Tanzania to Western Africa; Nigeria, Ghana to we found out that the problem was common.
So, we came up with Farmula
A platform that uses a price mechanism which ensures farmers earn more while buyers of farm produce spend less.
What is Farmula’s price mechanism?
It’s a simple model that takes into account key factors that affect produce prices. Our model uses various data points such as cost of demand & supply patterns and cost of production data to compute the prices of produce in a transparent and organized manner.
What happens next?
Well, organized and transparent prices are the beginning. What we want to enable is the purchase of produce at these prices. So, we use our sales channels which include our web app, USSD, phone calls or social media platforms to collect demand information from our buyers by asking a simple question.
Who wants quality produce that’s fairly priced?
Once the response is I do, we use that demand information to automatically match the demand to suppliers (farmer groups and agri-tech businesses) and immediately, suppliers are notified via SMS.
Who exactly is our primary target?
Farmula is a B2B business. We target small and medium businesses who have a minimum order which falls within a benchmark we set. We decided to focus on businesses because of the recurrent demands they have and the stronger need for our value proposition.
Which produce does Farmula price?
We will offer prices for all produce. However, we are starting with Kenya’s second most consumed crop; Potatoes, over 2 million tonnes produced annually with the potential to reach 10 million tonnes. Potatoes are high in production because of their high nutritional value and adaptation to various production environments. On the other hand, Potatoes are high in demand because they are quick and easy to prepare. Besides, the more people get engaged, the more they crave meals that can be made quickly.
How does Farmula work
Buyers of farm produce:
Farmers on the other hand;
Logistics partner get;
You can test our MVP at farmula.io. You can also follow us on social media facebook.com/Farmula.io or twitter.com/farmula_,
Our medium posts would be juicy insights around how various produce in Kenya are being priced and how we are working to change that. I look forward to seeing you back here soon.
Welcome to the future of efficient pricing,
Welcome to Farmula