Greek Food Corridors and its Mission E-Auctioning the Olive Oil and Fruit & Vegetable Market through Blockchain 

June 1, 2018 12:00 AM
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Greek Food Corridors and its Mission E-Auctioning the Olive Oil and Fruit & Vegetable Market through Blockchain 

The aim of the project is to achieve the automation of the Agricultural Greek & Indian market through a modern electronic Trading infrastructure export-oriented at European standards, by organizing & coordinating the market and creating transparency, speed and trust.

We are transforming the way the Agri-markets operate in Greece & India, bringing the producer closer to the buyer through technological innovation and enhancing collaboration schemes and strong knowledge exchange.

Challenges in the Current Market

There is a strong need for innovation & collaboration in the Agriculture sector in Greece & India.

Greek & Indian producers are small in economic strength, numerous and uncoordinated, and are unable to define the prices of agricultural products. They are not price-makers but price recipients in the hands of a small number of businesses at a monopoly level who are pricing according to their interests. Thus, the prices paid by consumers are often 4-6 times higher than the prices received by the producers.

These weaknesses will be cured by GFC E-Auctions

The auction clock is an instrument which will find the correct market price, a price discovery mechanism based on actual demand. This is new in India and Greece, and can change a lot when operational.

GFC E-Auction platforms will be supplied from 2 regions, Greece and India - from India tropical fruits as well as Vegetables that have the potential life shelf to make it fresh by sea freight & Airfreight to our Terminals in Athens & Brussels. GFC Platform will integrate as well non perishable goods, to be trade all year along.

Reference GFC functionality of the auction platform, group of farmers/growers will become members and supply the auction clocks with Agro-Commodities, perishable & non-perishable goods, the produces remain in their possession. GFC auctions the produces on behalf of Group of producers (GP), collectivity, wholesaler/exporter etc., through different Multitrade tools, and receives a commission.

We have interest from major buyers/clients, service providers in the food supply chain (importers/distributors), S/M chains, grocery chains, and Hotel chains, Restaurant chains to participate in the platform, as they are looking to source their produces directly, at a fair price and in a fast and reliable manner.

GFC e-auction platform will be a huge step to empower Greek and Indian farmers. Traders will bid online from anywhere in the world and farmers & farmer’s association will have secure a fair price for their products. This will lead to "scientific" price discovery by the farmers themselves, breaking the hold of middlemen.

OUR TEAM AND ADVISORS - Our complete team information is available on our website.