Ukraine is imposing tighter controls over grain traders to boost revenues to fund its wartime defenses, a move that may further complicate shipments from the country’s Danube and Black Sea ports. The Cabinet of Ministers will require exporters of grains and oilseeds either to get licenses or to provide tax records going back before the
Ukraine Ramps Up Scrutiny of Grain Exports gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.
The agri commodity sector is seeing a number of new initiatives using blockchain technology to improve efficiency in transactions.
The Covantis blockchain platform, which is aiming to making global agri-commodity trade simple, secure, and efficient, went live in February this year, two years after being created by agribusinesses players with the aim of digitalizing agricultural shipping transactions.
There are over 30 entities signed up as initial users of the platform, including its six founding members – Archer Daniels Midland (ADM), Bunge, Cargill, Cofco, Louis Dreyfus Company and Viterra.
The initial use case covers bulk shipments of corn and soybean from Brazil exported worldwide. But the plan is to extend that coverage to a wider range of grains and oilseeds and to other origin markets.