SINGAPORE, Sept. 22, 2023 /PRNewswire/ — Agridence (AGD), the Singapore-based technology provider founded in 2018, has marked a significant achievement in its journey to digitalize natural rubber supply chains and to deliver data-driven services to the industry. As of this week, the platform has hit 1 million tons in natural rubber trades.
Agridence’s pioneering sustainability dashboard offers transparent insights into supply chain dynamics. The platform’s comprehensive solutions include a secure B2B trading platform for physical natural rubber, traceability tools, sustainability dashboards and smallholder education content. This suite of solutions enables users to link essential information like traceability, sustainability and quality to traded rubber, accessible at shipping instruction level.
By the close of 2022, the platform engaged 19 unique participants from producers, traders, and consumers. As of 2023, the user base has expanded by over 50%, reaching a total of 29 users. This helped to steadily increase the volumes traded via the platform, despite the weak trading market environment in 2023. The increased volumes provide a solid database for the creation of the SICOM Agridence SIR20 Physical Spread Index that SGX has published, and it’s poised to provide pricing granularity for physical natural rubber trades. The Agridence Rubber Platform aggregates and anonymises the physical trade and runs the data through an industry-validated publicly available index methodology, ensuring robustness and confidentiality. SGX’s spread index publication offers valuable market insights and enhances price transparency for physical contracts.
“Traditional techniques in the decades-old natural rubber trade lack transparency, relying often on trades via telephone or messaging applications. As a former head of natural rubber procurement, I’ve seen firsthand the revolutionary effect of digital platforms in providing transparency and compliance in the sourcing of this vital tire-making ingredient. It is truly remarkable that we have achieved a million tons in natural rubber trades in the platform, and we are committed to maintaining this momentum moving forward. We are grateful to our partners who have embraced this idea of spreading digitalization beyond trade.” said Ulrich Antoni, Head of Business Development and Partnerships.
Agridence’s platform is open to all physical natural rubber industry participants, it allows efficient bilateral transactions and safeguards user confidentiality, with trade data accessible only to involved parties. SGX’s role as a neutral data custodian enhances confidentiality and data security on the Agridence Rubber Platform.
About Agridence Pte Ltd
Founded and based in Singapore, Agridence brings you the future of commodities trading. We are at the forefront of digitalising the agri-commodities supply chain across the globe to create a data-enriched and technology-powered ecosystem. This digital transformation enables deeper analysis of the supply chain to uncover environmental, social and financial risks allowing targeted interventions. At Agridence, we use technology to enable data transparency and strengthen trust. We provide industry intelligence and insights to empower our customers to make smarter decisions. We strive to identify issues and deliver solutions that will redefine how commodities are produced and traded.
For more information, please visit www.rubber.agridence.com
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SOURCE Agridence Pte Ltd