6 October 2014

Twitter for enabling farmers capacity to fight against food insecurity

 In recent years, there has been immense interest about use of social media for enhancing business, fundraising and economic transactions in agriculture and rural sectors. However, it is yet to know
if the social media can facilitate reducing multiple layers of bureaucracy in financial transactions (processes of getting loan granted from Bank or other financial organizations), and enhance peer-to-peer knowledge flows or improve financial or time-saving transactions. A new study shows how Twitter saved time of Mexican Banks by providing specific crop forecasting data simultaneously. Twitter has been used to inform a bank about the particular value of a commodity in real time that in turn, facilitates their financial decisions and informing farmers about loans opportunities. The study substantiated that Twitter can enable farmers to fight against food insecurity. The researchers argued that information dissemination through Twitter allowed farmers to receive funds faster and thus enable them to plant and harvest crops in time. 

Exploring the Role of Agricultural Loans on Food Security

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