How are B2B companies address unique challenges of the agricultural industry
Digital platforms have revolutionised the agricultural industry, addressing various challenges such as seasonality, perishable goods, and variable demand. They provide farmers, suppliers, and buyers with tools and solutions to optimize production, distribution, and marketing. Here are six real-life examples of B2B Agri-technology companies that have been helping with these challenges:
1. Digital platforms utilise artificial intelligence and machine learning to help farmers manage their crops efficiently. Their platform enables real-time monitoring of crops, weather forecasts, and pest and disease alerts. By providing timely information and actionable insights, these platforms can help farmers make informed decisions to mitigate the impact of seasonality and variable demand. An example of such a platform is Cropin in India.
2. Digital agri shopping platforms like industrybuying.com provide all agricultural supplies to farmers such as agri-equipment – chaff cutters, pesticide sprayers, mills plus fertilizers pesticides so the sector can adjust their supply purchases to variable demand quickly.
Using blockchain tech
3. Digital Agri platforms utilise blockchain technology to create transparency and efficiency in the agricultural supply chain. They offer solutions for managing commodity trading, logistics, and payment processes. By streamlining the supply chain helps reduce wastage of perishable goods and improves the overall supply chain management. An example is agridigital in Australia.
4. Farm management platforms use data analytics and satellite imagery to assist farmers in optimising their planting, irrigation, and harvesting schedules. By considering weather patterns, historical data, and market trend can help farmers adapt to seasonality and demand fluctuations efficiently. An example is FarmLogs and Meteobot. Further these platforms use IoT devices and sensors to provide accurate, localised weather data for farmers. By monitoring microclimates and weather conditions, farmers can better plan their planting and harvesting schedules, mitigating the risks associated with seasonality and unpredictable weather.
Eliminating intermediaries
5. Marketplace Platforms: B2B marketplace platforms bring together farmers, suppliers, processors, and retailers in one virtual marketplace. This direct connection eliminates intermediaries, reducing transaction costs and ensuring farmers get better prices for their produce. These platforms help farmers access a wider market, reaching buyers beyond their immediate vicinity. Example: AgriBazaar, an Indian B2B Agri-commodity trading platform, connects farmers with bulk buyers, helping farmers get fair prices for their produce and reducing price volatility.
6. Price Discovery: Digital platforms provide real-time market information, including commodity prices, demand, and supply trends. This information empowers farmers to make informed decisions about when and where to sell their produce, reducing price volatility and exploitation by middlemen.
Example: FarmLogs, a farm management platform, provides farmers with market insights and price forecasts, helping them strategize their selling plans to get better prices
These B2B Agri-technology companies demonstrate how digital platforms are addressing agricultural challenges by leveraging data, analytics, and innovative technologies to optimise farming practices, reduce wastage, and enhance the overall efficiency of the agricultural supply chain.
The author is a co-founder of Industrybuying