Nippon Biodiesel developing mobile money project to help up to 5 million farmers

In India, the Nikkei reports that Japan’s Nippon Biodiesel is developing a mobile money system that will allow villages in India and later in Sri Lanka and Mozambique collectively sell their crops as well as buy inputs such as fertilizers. The project targeting between 4 million and 5 million farmers will be supported in Sri Lanka and Mozambique by the UN Food Program with the agency investing $5 million over three years in the Mozambique project, after which time Nippon Biodiesel believes it will be profitable.