FY2019 Q1 Report – July 1st to September 30th 2018

Description: 

"Our platform offerings revolve around three core service areas: 1) the provision of improved agronomy practices/skills, 2) access to farm loans, and 3) affordable micro-irrigation systems. This quarter, 15,525 total new farm customers used one or more of these services. +Farm Advisory Services: This quarter, a total of 11,416 farmers used one of our agronomy services, of which 7,534 were new customers, meeting 99 percent of our total customer target for the quarter. We are currently targeting an ambitious goal of a total of 51,000 new adopters by the end of the year. We offer the following advisory services: 1) rice seed cleaning, 2) precision planting (for rice seed) 3) nutrient (e.g. fertilizer) management, 4) soil health management, and 5) crop protection services (to control pests & disease). We currently employ 106 field agronomists who drive outreach and growth. Our field agronomists are launching our new Soil Health Diagnostic Service, offered at a price of USD4 per acre. To date, we’ve sold 477 tests, 76% lower than our target. Our agronomy team has never launched this kind of fee-for-service before, and is learning it takes up more field staff time than originally estimated. +Micro-irrigation: This quarter is typically a slow time for irrigation product sales, as the period marks the end of the monsoon season in Myanmar. 1,655 new farmers purchased one of our micro-irrigation products, representing 16 percent growth year-on-year, and 91 percent of the quarter’s target. We are targeting 10 percent annual growth this year or 12,743 farm customers. This year, our irrigation product offerings include: micro-sprinkler systems, mister systems, drip systems, lay flat hose and a treadle pump. We sold a total of 3,062 units of irrigation products, representing an 8 percent y/y decrease, and earned sales revenue of USD 78,000 for the quarter. After 15 years of selling various models of our original foot-operated pump, we are now selling only one treadle pump model this season. In recent years, the market has shifted with the influx of affordable and portable motorized pumps from China replacing the more labor-intensive treadle pumps. Thus, our products today focus on advancing irrigation efficiency in water use. This quarter, we launched our newest product – a “Starter” Mister that customers can install for USD 10 for 1/10 acre . We are seeing strong demand largely due to the affordable price point. We have a very capable, new General Manager leading the irrigation business, Seng Nu Pan. We are reducing our in-house manufacturing work and shifting to sourcing components from new, higher quality, local suppliers as well as importing more parts from Thailand and China. Assembly is still done in Myanmar..."

Source/publisher: 

Proximity Designs

Date of Publication: 

2018-09-30

Date of entry: 

2019-08-04

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar

Language: 

English

Local URL: 

Format: 

pdf

Size: 

536.19 KB

Text quality: 

    • Good