Arun Ramachandran
| 45 views | 4 min read
Founded by Stalin and Archana, MyHarvest Farms has successfully built a robust model that not only benefits the environment but also ensures fair and increased incomes for the farming communities they work with. Here's an in-depth look at MyHarvest Farms, its operations, and the transformative impact it is creating.
MyHarvest Farms, officially known as Bhoominalam MyHarvest Farms Pvt Ltd, was established with the mission to provide authentic organic produce to consumers while ensuring that farmers receive fair compensation for their efforts.
The journey began with just 10 farmers outside Chennai, but thanks to the founders' commitment and strategic vision, the organisation now works closely with over 150 farmers across four districts in Tamil Nadu—Thiruvallur, Dindigul, Nilgiris, and Theni.
MyHarvest Farms operates on a dual model of subscription-based services and online sales, primarily targeting consumers in and around Chennai. Their production spans across the four mentioned districts, involving a total of 200 farmers, out of which they maintain a closer working relationship with 80-100 farmers. These farmers are directly supported through various interventions, including:
Land Preparation and Infrastructure: The organisation aids in land preparation by providing essential equipment and infrastructure.
Capacity Building: Training and capacity building are integral parts of the support provided, ensuring farmers adopt best practices in organic farming.
100% Buy-Back Guarantee: MyHarvest Farms guarantees the purchase of 100% of the produce, giving farmers the security of a stable market and assured income.
The financial model of MyHarvest Farms is designed to ensure that farmers have access to the necessary working capital. Rang De plays a pivotal role in this by providing low-cost credit ranging from ₹40,000 to ₹1,00,000 per farmer, with a tenure of 6 months to 2 years. This credit is crucial to cover costs of land preparation, purchasing equipment and other infrastructure needs.
This structured support has led to a significant increase in the income of farmers. For instance, the current monthly profit for farmers stands at Rs. 15,000, with expectations to increase this to Rs. 40,000 through continued support and market expansion.
MyHarvest Farms has mobilised 200 farmers and achieved a monthly revenue of Rs. 40 Lakhs in this financial year. Their model not only ensures fair prices but also promotes climate-resilient farming practices, impacting over 8,000 families in the region. The organisation’s achievements include:
Increased Incomes: From an initial seasonal income of Rs. 12,000, farmers now earn Rs. 15,000 per month.
Sustainable Practices: The focus on organic farming and the adoption of climate-resilient techniques have made their agricultural practices more sustainable and beneficial in the long run.
Community Engagement: MyHarvest Farms has a strong community connection, with a workforce of 50 people, many of whom come from the farming communities they serve. The organisation’s approach is hands-on, with staff members making daily visits to ensure quality control and provide ongoing training.
While MyHarvest Farms has made significant strides, they are not without challenges. The agriculture sector is inherently risky, with market dependence and climate variability posing ongoing threats. However, the organisation’s strengths—credible leadership, a strong community connection, and a growing revenue stream—position them well to overcome these challenges.
The future for MyHarvest Farms is promising. With the continued support of Rang De and other partners, they aim to reduce production costs further, thereby increasing the income for farmers.
Their prudent approach to market expansion, focusing first on fully tapping the Chennai market, demonstrates their strategic mindset. As they continue to grow, their commitment to organic farming and empowering farmers remains at the core of their mission.
You can Invest in the farmers backed by MyHarvest Farms and promote sustainable agricultural practices at rangde.in - join us to enable low-cost credit for a farmer with as little as Rs.500. Create impact and get repaid with interest!
