RSPO appoints Agridence to lead the development of a new traceability system for enhanced trade and regulatory compliance.
Agridence successfully leverages its platform experience in Natural Rubber to enter the Palm Oil sector, proving its cross-commodity strategy.
SINGAPORE, Oct. 16, 2023 /PRNewswire/ — Agridence Pte Ltd (“Agridence”), is proud to announce a landmark achievement to lead the digital transformation for a unified digital infrastructure that will integrate the Certification, Trade and Traceability System (CTTS) as a streamlined end-to-end system for The Roundtable on Sustainable Palm Oil (“RSPO”) and its stakeholders. This award marks a significant milestone for Agridence, and recognition for its innovation and excellence in developing solutions for sustainable procurement successfully across multiple agri-commodities.
Agridence Chairman, Ian Potter, expresses his delight: “RSPO has been a leading actor in the drive to make Palm Oil more sustainable and will be a great partner. With the impending requirement for traceable supply chains that starts with EUDR, digitalisation is imperative for all operators in the space. We’re delighted with the opportunity to be part of this important process and are honoured that our team and tech has been recognised in this way. This project builds on our progress with traceable Rubber and we look forward to demonstrating our agri-commodity experience and product excellence building soft commodity traceability applications for Palm.”
The challenges faced in palm oil and natural rubber are notably similar due to their shared cultivation landscape and market structures. With insights gained from addressing similar challenges, Agridence has been tasked to spearhead a tripartite consortium of global Agri-Tech firms for RSPO’s digital transformation, amalgamating the best minds in technology and sustainability that will deliver an unparalleled step change in efficiency, reliability and technological advancement to this bespoke CTTS, tailored to meet the specific needs for the sustainable palm oil stakeholders.
Gerald Tan, CEO of Agridence, declared: “This is a unique accomplishment that is significant on multiple fronts. It demonstrates our capabilities to collaborate and synergise our resources with domain experts and innovators to develop a unified and optimised system for the sustainable palm oil industry. This extension into palm oil affirms the recognition and trust in Agridence, our track record in natural rubber that has delivered a robust and secure B2B trading platform, integrated sustainability dashboard, and traceability tools. As we embark on this exciting venture, Agridence remains committed to driving innovation, fostering collaboration, and delivering unparalleled value to our clients towards a sustainable future.”
Chief Strategy and Digital Transformation Officer for RSPO, Ms Nikki Gee shared, “The decision to appoint Agridence as the lead to manage and maintain RSPO’s systems is driven by a combination of best-in-class solutions that will be able to meet current demands and anticipate the future needs of a sector that is fast-evolving in line with tightening global regulations. We are confident that Agridence will deliver a seamless experience for RSPO and our Members.”
The digital transformation project is expected to have far-reaching impact, not only in the palm oil sector but also in setting a precedent for other industries seeking to enhance sustainability and meet regulatory requirements.
Agridence will be present at the RSPO Annual Roundtable Conference (RT2023) in Jakarta from 20 to 22 November, where they will participate in the panel – The Future of Certification, Trade and Traceability in the Next 20 – which will address the project rollout and its implications for the sustainable palm oil industry in the future.
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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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