Online platform AgroGo, specialized in online trade of cereals and inputs, recorded a total of over 211,000 tons in offers places, only 5 months after launch. Currently, AgroGo is the only platform in Romania that sells cereals when available or on the term.
According to platform developers, AgroGo offers a simplified alternative to commodity exchanges and supports thus Romanian farmers by supporting the competition of buyers on the market.
“Romanian farmers are very exposed to price fluctuations and, unfortunately, too few of them get informed on the topic [and] information from existing sources are hard to access or to understand. We created AgroGo with the purpose to cut risks and increase farmers’ profit, as well as that of involved in processing and even of traders. On the long term, we will monitor trading prices, so that we can offer the best reference price for cereals, in different areas of the county. We aim to facilitate the trading in a way that is as accessible and as transparent as possible,” Vasile Topac, Interactions Lab co-founder and platform developer said.
AgroGo provides the information necessary to make decisions regarding the sale and purchase of cereals by offering updated prices, analyses, graphics, news and more and allows trade to be conducted in an organized way. The prices of cereals are obtained from the main international commodity exchanges MATIF-Paris, CBOT/CME and more and are supplemented by data obtained from the Ministry of Agriculture, Constanta Port, as well as from partner dealers.
“Our main objective is to make the information as easy to understand both for farmers, as well as fr processors, regardless of whether we are talking about stock prices or about USDA reports or Eurostat – key entities in agribusiness entities. The better the farmers understand this market, the better they will answer to offers received,” Vasile Topac said.
Since its launch in October 2016, AgroGo platform attracted 800 users.