Food & agribusiness is getting massive each year after being a $5 trillion global industry just in 2015, most importantly it offers an opportunity for demand enhancement.
The Population increase which naturally demands the basic needs of Agri goods that have opened gates for opportunities not only to cater to the requirements of food but also in technical advancements throughout the value chain.
Major organizations that are emerging in developing digital & e-commerce space are Startups to provide greater price transparency, streamline procurement process, and good command of blockchain technology that’s making the world a smaller place to trade.
Agricultural e-commerce platforms are the once where buying of Agrifood and services are done electronically with the use of computer systems that have brought improvement and efficiency over the manual operations carried out through physical contracts.
In the same way, this digital process is changing the course of how trade contracts were performed previously by blurring the distinction between physical & virtual worlds helping reduce cycle time and administration costs.
Thus, these systems connect buyers and sellers in ways that ensure the integrity and desired product visibility to the customers. The platform that provides a more successful price comparison is the prime factor where both the parties agree at a fair point resulting in better negotiation compared to the physical place.
It has various advantages over the physical market such as market outlook diversification, elevated customer reach even in remote areas; it encourages digitization & price transparency. On the other hand, there are many challenges, too; the most difficult to deal with are the fraudulent practices carried out such as fake websites in the name of development, proper diligence is always required before engaging with any website.
The number of people using internet services has drastically increased over the years. In agro space it provides advantages of detailed description & pictures along with communication facilities and with the presence of promotion tools such as social media and emails transferring information and doing business have become easier than ever, identified as an immense potential for Agri marketing especially suitable for exotic fruits, vegetables, spices, grains of different varieties.