Medium Grain Rice is one of the main staple foods of the Asiatic people. Some of the leading producers of rice are China, India, Vietnam, Malaysia, Thailand and Bangladesh. As a matter of fact, India has emerged as the largest exporter of rice in recent years.
The country that has been replaced is Thailand. India takes the lead in both the Basmati and non-Basmati category. Some of the major importers of rice from India are countries like Iran, Saudi Arabia, UAE, Kuwait, etc. In terms of length, there are three types of rice: long-grain, medium-grain and short-grain rice. Some of the well-known medium-grain rice are Jasmine Rice, Swarna Rice, Calrose rice, japonica rice, round-grain rice, matta rice and Vietnamese rice. It is primarily grown in Southeast Asian countries like Thailand and Vietnam. Rice sellers have been making a handsome profit by dealing in bulk quantities of medium grain rice.
Compared to long-grain rice, medium-grain rice has a lesser percentage of starch. It is shorter in length and contains extra moisture. In a major consumer country like the USA, It accounts for 26% of total rice production. Patterns of import/export of rice have undergone some changes. Traditional medium grain rice buyers like Japan and South Korea made minimum access agreements to protect the local market. The two above-mentioned countries have been reliable importers for many years now. MENA (Middle-East and North Africa) countries have emerged as a hotspot for large-scale trading of rice. Turkey, despite being the largest producer of medium-grain rice has emerged as the biggest importer in the region. In the year 2019, Egypt emerged as the largest importer at 700,000 tons.
The USA has maintained its position as the leading exporter of rice. The other main exporters are the EU, China and Australia. Bulk trading of rice is a major challenge because of a large no. of middlemen, intermediaries and mediators. New exporters and importers are not able to derive the value out of a transaction. Middlemen and intermediaries pocket the main profit at the cost of buyers and sellers. Digital innovation allowed faster and smoother trade directly between the buyers and sellers. Trade platforms like India Mart and Trade India promised a lot but could not eliminate the middlemen. Moreover, there are still issues pertaining to the credibility of buyers and sellers.
Identifying the service gap, TRADOLOGIE pushed the boundaries for innovation by developing a smart agro-platform. It is a next-generation, B2B platform for bulk trading/procurement of medium grain rice. On this platform, only serious buyers and sellers are allowed onboard through a comprehensive filtering mechanism. The concept of reverse bidding allows the buyer to check the live status of the price being quoted by the participant sellers. Buyers also get the choice of a counteroffer to the finalized sellers. The platform ensures that trade and negotiation can be conducted from the comfort of homes and offices. Payment security for both the buyers and sellers is secured through a step-by-step procedure. Sellers receive the payment only after the goods are delivered.