Commoditrader launches a series of services to give farmers better market insight and trade conditions
June 8, 2020, 9:00:00 PM
Commoditrader, the digital trading platform for agricultural commodities, launches a series of functionalities and additional services to the platform, designed to ensure transparency, and informed trading to its users - farmers, professional traders and agricultural enterprises.
When trading any kind of product with an underlying speculative market, the better your insight, the better your performance. And with Commoditrader’s promise to help farmers getting better market insight, and more transparency, Commoditrader is now launching a series of new functionalities and services. A move which is backed up by one of the investors in Commoditrader, Jytte Rosenmaj, who founded Idavang, a 28.000 sow swine production located in Lithuania and Russia.
“To a high extend it was an investment from the heart when we and the other investors in Commoditrader went in and took ownership in the company. We simply wanted to see it happen! For many years, we have been following both western- and Eastern European agriculture, and one thing which farmers across Europe has in common is that we are all the link in the chain with the least market reach- and unbiased market information.
The team has now created functionalities, which gives farmers an even better tool for making sure they get a wider reach and thereby the best price when entering the market to trade, plus a market insights module with analytics and pricing information. This will be key tools for the farmers across Europe to add to their toolboxes, and as farmers, we are honestly very proud to see it take off in Romania”.
Co-founder and Director, Ida Boesen, who comes with various insight from the agricultural industry is eager to create tools for farmers, where she has seen a potential for creating better tools.
"Digitalization has generally proven to ensure better access, wider coverage, and better work processes - all leading to transparency, informed decisions, competitiveness, and ultimately better prices for all market players. That is why we aim to further develop and grow the Commoditrader platform to give the agricultural industry the same benefits that other industries have met in recent years”, said Ida.
CommodiConnect – Connects the farmer
CommodiConnect helps the user to find information about all users on the platform, and not only those with active listings. This means that you can filter on buyers and select who you want to send your listing to – basically a tool for making tenders every time you trade. Most professional traders and other buyers are already on the platform, meaning that if you create a tender through CommodiConnect, you can include a large range of trade actors in the Romanian market with just a few clicks. One can also reach out to new potential trade partners to establish trade partnerships. Segmentation can be done by user, whether local producers or international sellers, or by listing - for sale or purchase, and one can see all relevant information about the user. If there is a match to the business needs, the user can be contacted through the message center to bid on the listing.
Market analytics and price information
Farmers and traders need to be constantly connected to market and price developments to act informed and fast at the right time. The price of cereals fluctuates a lot, and Commoditrader follows the developments on both the European Matif exchange and the American Chicago Board of Trade, and locally in the different corners of the markets. Through integrations with the exchanges, Commoditrader offers premium users an overview of price curves, both historically and on individual trading days, as well as the direction in which the market is moving, by combining the outlook of the physical market with those of underlying futures markets.
Commoditrader is a Danish high-growth company which was founded in 2018 by two Danish women, tech-entrepreneur Julie Koch Fahler and commodity trader Ida Boesen, and an international group of large farmers. The Commoditrader.com platform launched in Denmark in April 2019 and in September in Romania.
Launching its online marketplace www.commoditrader.com, the company undertake the mission to support transparent and open trade and create better connections to farm level, using digitalization.
Commoditrader was awarded “Most innovative company in the Agri industry” by the Danish Agriculture & Food Council and YARA and “No. 1 new Nordic fintech start-up in 2019” by Copenhagen Fintech and The Danish Industry Foundation. The company was also officially appointed “One of the 10 most important things that happened in the last 100 years in the Agri industry in Denmark” by Danish Agriculture & Food Council.