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Digitizing the rice trade: PWIP's journey of transforming cross-border supply chain

PWIP aims to revolutionize the $458+ billion trade industry by leveraging technology and creating a transparent and efficient platform

Published: Jun 26, 2023 02:29:06 PM IST
Updated: Jun 28, 2023 03:03:29 PM IST

Digitizing the rice trade: PWIP's journey of transforming cross-border supply chainRice, a beloved staple food across the globe, holds a special place in culinary traditions. From Japan's sushi to India's biryani, rice-based dishes are cherished in various cultures. India, home to diverse rice varieties of non-basmati & basmati like Sona Masuri, Kolam, 1121 Sella, 1509, etc, has emerged as a significant player in rice production and export, exporting 90,000cr worth of rice every year to different countries like Malaysia, Singapore, etc even to Vietnam, Philippines, and Myanmar which itself are a major rice producing countries.

Yet, the rice trade has long suffered from challenges and inefficiencies, & still runs unorganized in the traditional manner.

Challenges Faced:
Having exported rice for over a decade, Dhanraj (Founder & CEO, PWIP) encountered numerous hurdles prevalent in the industry. Finding buyers and millers proved to be a daunting task, often taking years to crack a deal. Lack of transparency, trust, and an unorganized supply chain created significant obstacles. The absence of a seamless network and heavy reliance on middlemen further complicated matters, discouraging new trade partners from entering the market. Even after securing deals, issues such as price discovery, documentation, freight rates, and logistics complicated the trade further.

Additionally, Dhanraj faced unfortunate incidents, such as 40 lakh worth of cargo containers being stuck at transshipment ports for months due to shipping line negligence and losses incurred due to absconding buyers and quality issues despite renowned third-party quality checks.

The Birth of PWIP Foodtech:
Driven by these firsthand challenges, Dhanraj envisioned the integration of technology into the rice trade, aiming to transform the industry's landscape. Recognizing the success achieved by traditional businesses with technological integration like If you add tech to cab service, you get Ola! Add tech to food delivery, you get Swiggy-Zomato and add tech to matrimony and you get Shaadi.com !

Dhanraj embarked on a mission to create a groundbreaking solution for the cross-border rice trade. PWIP (Partner with Indigenous Producers) was born, driven by the need for a transparent and seamless supply chain that connects trade partners directly, eliminating middlemen and enabling efficient discovery and trade beyond boundaries. He had to try & figure out how to integrate tech in our ecosystem and eventually, he cracked it!

Empowering the Rice Ecosystem:
PWIP emerged as a rice trading and networking platform, connecting rice producers, exporters, and importers. In just two years, the platform has made remarkable strides, onboarding over 40,000 users, partnering with more than 200 millers, and facilitating the establishment of 55+ profitable rice export businesses in India. With exports amounting to 37,842 + tons of rice to over 11 countries facilitated through the platform, PWIP has empowered every trade partner within India's rice ecosystem.

The Path Ahead:
PWIP's success story is just the beginning. With its sight set on digitizing the global rice trade ecosystem, PWIP aims to revolutionize the $458+ billion industry. By leveraging technology to create a transparent and seamless platform, PWIP is poised to drive growth, enable trust, and foster collaboration among millers and exporters worldwide. With their visionary approach and commitment to transforming the rice trade, PWIP is set to shape the future of this vital industry.

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