Gurugram-headquartered agri-tech startup Origo Commodities, primarily known for post-harvest agriculture supply chain management specialization, is getting ready to add major digital components to its operations before the end of the current fiscal. Speaking with indoasiancommodities, Sunoor Kaul, Co-Founder & Director of the firm said the company is all set to unveil a dedicated e-auction and also its blockchain platform in the last quarter of the current fiscal.
“We are launching our blockchain platform next month while e-auction platform will be unveiled in February. The e-auction platform will further expand our services portfolio facilitating buying and selling of commodities involving government agencies, private firms and traders and other stakeholders,” Kaul informed. The e-auction platform will also facilitate easy settlement of transactions, he added.
Online agri-commodities auction primarily involving private trading between the stakeholders is believed to be gradually picking up momentum in the country. A clutch of platforms have emerged in the recent years, and some of them are reported to be picking up scale at a rapid pace.
Origo is currently managing around 400 warehouses in the country handling commodities worth Rs 9,000 crore on an annual basis. The company has procurement and storage businesses in 12 states which include Punjab, Haryana, Uttarakhand, Rajasthan, Gujarat, MP, Maharastra, Telangana, Andhra Pradesh, UP, Bihar and Odisha.
“In business terms, the major markets for us currently are: Punjab, Haryana, Rajasthan and MP. Wheat, paddy, rice, maize, cotton, soybean, mustard, and oil seeds are the major products in our portfolio,” Kaul said while adding that the company had registered a turnover of Rs 295 crore in the last fiscal and has broadly maintained a double-digit growth trajectory in the recent years.
Origo Commodities is now looking at expanding its geographical footprint in the country with foray in new states. “In the next couple of years, we are targeting to establish our operations in Karnataka, Tamil Nadu and possibly also in West Bengal which may mark our entry in east India. Besides, we are also keen to penetrate further in the states where we are present right now,” he added.
Kaul, however, clarified that the company currently has no plans to dabble in horticulture produce. “The foodgrain products where we have built a base will continue to remain our primary focus in the near to medium run,” he said.