Reuters Market Light service launched for Punjab farmers

Chandigarh, Oct 21 (UNI) Thomson Reuters expanded its ground-breaking mobile information service for domestic agricultural community by launching Reuters Market Light (RML) in Punjab today.

RML will bring commodity prices, crop and weather data to the Punjab farmers via mobile phone. Over 3,000 RML subscribes have already signed up in Punjab, the birthplace of the Green Revolution in the country.

Chief Minister Parkash Singh Badal inaugurated the service that provides information on 17 crops/commodities, including varieties in 60 Mandis spread across the state. Ajmer Singh Lakhowal, Chairman of Punjab Mandi Board, was also present at the function.

Before the launch of the service, RML signed a Memorandum of Understanding (MoU) with the Punjab Mandi Board for sourcing market data from the Board. On behalf of RML, its Managing Director Amit Mehra inked the MoU, while Mr Deepender Singh, signed for the Mandi Board.

Under the MoU, RML service would be provided to the farmers for a period of one year. Thereafter the MoU can be reviewed.

After signing of the MoU, Mr Mehra said Thomson Reuters plans to expand to a third Indian state by the end of the year. Following its early successes, RML is now finding that increasingly subscribers opt for 12 month contracts, as opposed to the original three-month option, he added.

RML provides crucial customised agricultural information to help farmers maximise their productivity and increase their returns, Mr Mehra added. For subscribing to RML, a subscriber would pay Rs 250 for three months, Rs 500 for a six month period and Rs 850 for an year.

RML was launched in October last year in Maharashtra where RML has sold over 60,000 subscriptions. It is estimated that the benefits of RML's accurate, timely information have achieved up to Rs 10,00,000 of additional profits on the sale of crops in Maharashtra.

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