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
Rice, 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:
