Agritech 2024

–Reduce vulnerability due to price-demand fluctuations: Farmers and consumers alike are vulnerable to fluctuations in demand and price based on the flow of produce in a particular market or geography. Information asymmetry on three key datasets – the area under cultivation; sowing time and possible harvest time; and quantity of produce harvested – causes an imbalance in price-demand equilibrium and leads either to very high prices or a slump in the price of a particular product. Timely and accurate information and predictions to farmers, policy-makers, processors and consumers on these three parameters can reduce vulnerability for all stakeholders. Data – the driving factor FIGURE 2 Platform Technology platform to allow the exchange of data following the data owner’s consent Policy Data management policy to focus on protecting individuals, preventing harm and promoting innovation Protocol Protocols to standardize agricultural nomenclature and schemas for interoperability DPI’s impact on farmers Hyperlocal and customized agritech solutions Adoption of climate-smart agriculture Reduction in farmers’ vulnerability to price fluctuations due to demand-supply issues Source: World Economic Forum Agritech: Shaping Agriculture in Emerging Economies, Today and Tomorrow 14