With growing demand for transparency and traceability of global food supply chains – the Food Traceability market is estimated to be worth as much as US$9.28billion by 2028, it is no wonder that there has been much data-driven innovation in the AgriFood sector. There has also been increasing recognition of the need for a digitalized food system, particularly in the wake of Covid.
However, critical digital and physical documentation required to conduct AgriFood trade continues to be disseminated, recorded and stored in an inefficient, disconnected and unsecure manner across the various stakeholders in the AgriFood supply chain.
Importance of Trusted Supply Chain TradeDocuments in AgriFood Trade
Agriculture and food commerce are more complicated than manufacturing trade because trade standards are more stringent, documentation is more cumbersome, and logistics are more complicated – these are often necessary to ensure consumer food safety. For food safety, detailed information on traded items as well as the movement of goods in a supply chain is vital and these challenges have been exacerbated by the rise in e-commerce.
Thus, the need for trusted digital documents showing the food safety status and traceability data of food products is needed more than ever. For instance, in lieu of the pandemic, China has implemented strict policies on food imports and even banned imported fruits and salmon from specific ports. For AgriFood companies dealing with food import-exports, being able to efficiently and effectively store digital documents and trade information and ensure its validity and authenticity in crucial to ensure trust in the provenance of their food products.
How Can AgriFood Businesses Be Assured of the Security of Their Uploaded Documents?
Data breaches, document forgeries, and fraudulence have become a pressing issue for digital documents on the web or businesses’ private platforms. It is crucial to note that although there are several methods for digitizing documents and storing digital documents, the security and efficiency of such methods may not be as seamless and transparent as one might think.
Current communications occur over different communications platforms such as social messaging apps and emails, causing crucial trade information and documents to be scattered and stored inefficiently, making it challenging for AgriFood companies to ensure timely verification of these documents, or store and retrieve them securely.
How DiMuto Helps – DiMuto Creates Trade Visibility for “The Messy Middle”
With DiMuto, Retailers and Suppliers can now enjoy greater visibility of all their trade data. Product, document and payment data are all tracked on a single platform. Suppliers, Traders and Retailers are able to easily access all relevant trade documents which are automatically uploaded onto the blockchain, ensuring immutable records of the trade action and documents.
In addition to utilizing the blockchain to build trust, DiMuto utilizes Dedoco, a decentralized digital signing platform on blockchain, to further authenticate trade documents.
How DiMuto Authenticates Trade Documents on the Platform with Dedoco
AgriFood Trade documents on DiMuto are further authenticated with Dedoco’s blockchain-enabled electronic signature platform to increase the credibility of digital documents. Documents are readily signed using Dedoco and registered with a unique blockchain hash when they are published to the DiMuto platform. Documents’ signatures can also be verified Dedoco web.
Digital Documents will require signatures that are then embedded with a blockchain hash
With blockchain-verified signatures that act as a guarantee of document authencity, DiMuto ensures credibility of every trade transaction – removing barriers such as security risks, fraudulence, and forgery of documents. DiMuto’s All-in-One trade management platform helps strengthen trust and confidence among AgriFood players in the food supply chain.
If you are interested to learn more about how DiMuto ensures trust for global AgriFood trade transactions, talk to our sales team today at sales@dimuto.io and find out how DiMuto can support your journey to better trade visibility. www.dimuto.io
Sustainability can be simply defined as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” How can AgriFood companies of today achieve this seemingly loft vision?
Across industries, companies are now dedicated to regularly measuring their sustainability performance through sustainability reporting. According to KPMG’s biennial Survey of Sustainability Reporting 2022, a whopping 96% of the world’s 250 largest companies have reported their sustainability or ESG (environmental, social, and governance) matters.
Despite such high sustainability reporting rates, it’s difficult to determine if companies are becoming inherently more sustainable. This is especially alarming given the increase in global carbon emissions to record highs of 415.7 parts per million in 2021, which is 149% of pre-industrial levels. This is because of the complexity of global supply chains, especially more so for larger companies that often rely on partners, vendors and suppliers around the world to fulfil products and services, making it difficult to match reported metrics to what’s actually happening on the ground.
The FAO estimates that 31%, or 16.5 billion tonnes of carbon dioxide equivalents, of greenhouse gas emissions comes from the Agrifood supply chain. With the AgriFood industry being one of the key contributors to global emissions yet one of the least digitized industries, we need to make sure sustainability reporting, when adopted by AgriFood companies, results in actual positive sustainability changes.
Image: Person holding compost bin
How can DiMuto help?
DiMuto offers a farm-to-fork solution that captures critical data points with our solutions, that can eliminate data silos to form an accurate picture of sustainability levels. Our blockchain-powered solution helps to ensure immutability, showing the who, what and when of data inputs and creating foundation of trust.
We help to record:
Farm Management Data Such as fertilizer, water, electricity usage
Production Management Data Such as raw materials used for packaging, utilities and more
Trade Management Data Such as carbon footprint from sea shipments and air shipments
Inspection Management Data Such as quality rejections, disposal levels and more
Image: L to R, DiMuto’s Sustainability Management Dashboard on Desktop, DiMuto’s Farm Management on Mobile Application, DiMuto’s Inspection Management on Mobile Application
For instance, the DiMuto Farm App records harvest and field data of smallholder farmers, connecting it to the packhouse production data and procurement data. This is especially important as 94% of agriculture workers are involved in the informal economy, according to the OECD.
Our solution also captures pre-shipment and post-shipment rejection data points to calculate real-time food waste level data, helping AgriFood companies to easily gain visibility on not just upstream but also downstream impacts, enabling more accurate Scope 1, 2 and 3
Image: Infographic of Scope 1, 2 and 3 Emissions
4 Key Metrics we help to measure and help AgriFood business owners to gain visibility on:
Monetary Costs Show opportunities to improve efficiency, sustainability, and long-term cost savings
Food Waste Highlight source of unnecessary greenhouse gas emissions and waste
Carbon Emissions Understand energy efficiency of their products’ carbon footprint
Water Usage See water footprint of their products and help ensure a resilient and safe water supply
These 4 key data types are then aggregated automatically on DiMuto’s Sustainability Management Dashboard. This dashboard helps Agrifood business owners to easily see the environmental impact of their operations and follow product lifecycles in real-time with useful metrics, which can be immediately generated into a report for it to be shared with relevant parties.
Image: Infographic of 4 Key Sustainability Metrics with statistics
AgriFood companies can now track and record accurate primary data, ensuring the reliability and efficiency of sustainability reporting of environmental metrics.
Capturing and analysing this data regularly and reliably empowers Agrifood business owners to identify opportunities for sustainable improvements, assess their progress, and determine new targets, helping to fuel a data-driven movement of food sustainability.
This is not to say that DiMuto is a magic bullet that can solve food sustainability, but working towards shedding light on real-live on the ground data through the supply chain, will help to build a more accurate picture on our sustainability progress, and allow us to work towards creating better standards of sustainability for the AgriFood industry.
If you are interested to learn more about how DiMuto helps improve sustainability of food systems for global AgriFood trade, reach us at sales@dimuto.io.