Covantis has announced a significant expansion of its platform to enhance the efficiency of global trade in agricultural commodities. With this move, the company aims to reduce inefficiencies and risks in the trading process, particularly for grains and oilseeds.
The Covantis platform has already established itself as a key player in the agricultural sector, facilitating the majority of exports from Brazil, the United States, and Argentina in 2023. By digitising the execution process—traditionally conducted via email and phone—Covantis connects all parties involved in the buying and selling of agricultural commodities within a single ecosystem. This standardisation and automation of processes not only streamline operations but also mitigate the risk of errors.
As part of its recent expansion, Covantis is now focusing on major export markets for vegetable oils, including rapeseed oil, sunflower oil, and soybean oil, sourced from North America, South America, and Europe. This strategic move enables the company to tap into the growing demand for vegetable oils globally, thereby facilitating smoother transactions and enhancing overall trade efficiency.
Petya Sechanova, CEO of Covantis, expressed enthusiasm for this expansion, stating, “This launch marks a pivotal moment for Covantis. Our platform transcends borders to empower agricultural trade on a global scale, helping to speed up document presentation, reduce risk of errors, and automate processes.”
With the completion of this expansion, Covantis has successfully cultivated a network of 44 agricultural groups and over 200 legal entities. The company’s commitment to digital transformation in the agricultural trade sector aims to improve productivity and foster a more resilient supply chain.
The agricultural industry faces ongoing challenges related to inefficiencies and risks, particularly in the context of global supply chains that are becoming increasingly complex. Covantis’ platform seeks to address these challenges by offering a comprehensive solution that integrates various stakeholders and streamlines operations.
As global demand for food continues to rise, the role of innovative platforms like Covantis becomes increasingly vital in ensuring that agricultural trade operates smoothly and efficiently. This expansion positions Covantis as a key facilitator in the agriculture market, with the potential to significantly enhance the way agricultural commodities are traded worldwide.
