Swiss-based blockchain platform Cerealia has gone into production. The commodities marketplace is initially targeting the grain trade in the Black Sea area encompassing Russia, Ukraine and eastern block countries on the one side and in the Mediterranean, Turkey, Egypt, Tunisia and Lebanon. Founder CEO Andrei Grigorov was a grain trader for twenty years in the region, latterly with Euro Trust Trading for almost 13 years.
The solution has been running pilots since 2018.
Russia and Ukraine are major wheat producers. According to the UK’s Agriculture and Horticulture Development Board (AHDB) for the 2019/20 season, the two countries were expected to produce 112.5 Mt out of a world forecast of 763.4Mt or 15% of the market. However, the countries account for a larger proportion of exports.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
