To resolve the imbalance in the global agriculture trade market, integrated agri-data is key, says Tridge CEO and founder, Hoshik Shin at his keynote speech for the Global FoodTech Startup Conference held in Seoul last July 26-28, 2023.
During the event, Shin further expounds on supply chain instability by citing the Russian-Ukraine conflict as an example of how prices are skyrocketing in certain regions while plummeting in others, highlighting the significance of data as it falls under the zero-base area where annual production quantities cannot be predicted.
The Tridge CEO underscores the necessity of data in alleviating instability by helping buyers and sellers find optimal connection points, help supply chain stakeholders predict and prepare for unforeseen events, and provide insights that aid smarter decision-making in the global agri-food supply chain.
Data-oriented solutions comprise a sizable part of Tridge’s product offerings. The company is said to provide crucial difficult-to-obtain information on suppliers and buyers to help them match with each other based on their needs, and also offers global data that can be used to explore new markets, among other services in their portfolio. To date, Shin mentions that the use of reliable market data has led to the creation of new market opportunities, generating demand for Bulgarian Mint in Asia, introducing Greek Kiwi season to Korea, and exporting Korean Shine Muscat Grapes to new buyers abroad.
The company’s vision is to build an interconnected global agricultural ecosystem that runs on data to eliminate information asymmetry and address operational inefficiencies in the agri-food industry.
Other notable speakers at the event included renowned robotics engineer, Professor Dennis Hong from the University of California (UCLA), bio-materials scholar, Professor Jo Nam-Jun from Nanyang Technological University in Singapore.