Agri Business

SourceTrace, AgNext tie up to create tech platform for food chain traceability

Bengaluru | Updated on July 16, 2020

SourceTrace, a traceability solution provider, has tied up with agri-tech start-up AgNext to create a technology platform ‘TraceNext’ for providing complete food value chain traceability from the farm gates to the consumer.

TraceNext will help the commodity value chains in tracing of food origin and chain of custody, monitor ethical and sustainable practices used in growing food among others, both the companies said in a statement. It will also help in legal and compliance norms, instant quality testing on trade and safety parameters, while enabling instant trade decisions without any delays and dependencies. TraceNext would also help ensure blockchain and fair trade practices in commodity supply chains, the statement said.

Food safety

“In the coming years, traceability is going to be the most critical technology to ensure food safety. TraceNext is the only solution that can provide food businesses, regulatory bodies and consumers all the information they need to ensure food safety. It will also change how food businesses and consumers interact and what information is exchanged. We are looking at a complete transformation of the food ecosystem,” said Venkat Maroju, CEO, SourceTrace.

SourceTrace has already implemented traceability solutions across diverse sectors such as fruits and vegetables, organic cotton, vanilla, aquaculture, flavors and fragrances, spices, honey and more across 28 countries since 2013.

Taranjeet Bhamra, CEO, AgNext, said: “Leveraging the best of technologies and principles of agriculture practices, we are joining hands to solve the greatest needs of the times, solving issues for farmers, agribusinesses and consumers alike. TraceNext fills the gap for providing a one-stop seamless solution for food origin and quality for effective trade, procurement, production and consumption of food. The potential to transform value chains is limitless.”

Food safety has been a growing global concern that is only set to rise in the current Covid-19 pandemic. It is in these times that it has become more imperative than ever, to ensure unadulterated and safe food across global food chains, it said. Global traceability market was worth $10 billion in 2017 and projected to more than double to $22 billion by 2025.

Published on July 15, 2020

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