The UAE has launched Agriota, a new technology driven agri-commodity trading and sourcing e-market platform.
India ranked 72nd out of 113 nations in global food security index in 2019. Singapore ranked first followed by Ireland, united states, Switzerland etc. according to the index, UAE, Israel and Singapore are the most impacted countries when it comes to natural resource risks and resilience against future food security threats.
Dubai Multi Commodities Centre (DMCC) and government of Dubai’s authority on commodities trade and enterprise, millions of Indian farmers will get an opportunity to connect directly with the entire food industry in UAE.
Agriota platform was formally launched on August 26,2020. The ceremony was also attented by Pavan Kumar, India’s ambassador to the UAE. The platform is launched with an intent of bridging the gap between millions of rural farmers in India and the Gulf nation’s food industry. The Agriota platform was jointly developed with CropData Technology, an Indian company with a mission of helping marginal and small farmers. This was after the signing of a collaboration agreement during the Prime Minister of India’s visit to UAE in February, 2018.
Agriota e-marketplace uses blockchain technology:
Agriota e-marketplace uses blockchain technology to help bridge gaps between millions of Indian farmers and UAE’s food industry including food processing companies, traders and wholesalers. The e-market platform allows the millions of farmers to bypass intermediaries, therefore optimising the supply chain and ensuring traceability to create value for all stakeholders. It provides end-to-end traceability and transparency through last-mile verification and extension infrastructure in blockchain environment.
To ensure secure transactions of funds while using this platform, a proprietary banking system with multi-tier escrow structure has been introduced.
Goal of launching Agriota:
The Agriota E-market platform was launched with the ultimate goal of positioning UAE as a world leading hub in innovation-driven food security. it will also inch the UAE closer to the top of the Global Food Security index.
In words of Ahmed Bin Sulayem, the Executive Chairman and Chief Executive Officer of DMCC, “ The platform takes symbiotic relationship even further, benefitting millions of Indian farmers while simultaneously providing greater food security for UAE.
According to officials, such aggregation has potential to empower local communities, deliver better quality farm-to-shelf products and expand UAE’s long-term food security.
Initially the platform will offer cereals, pulses, oil seeds, fruits, vegetables, spices and condiments
Looking at 2019, India exported more than USD 38 billion of agricultural and processed food products, with one of their largest markets being middle east.
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