The trading platform will modernize fertilizer supply chains to deliver significant cost and time savings, says Fertilizer Exchange.
Phil Sunderland, General Manager of Fertilizer Exchange, said: “Announcing this launch timetable is a huge step forward as we seek to modernize the global fertilizer trade. We look forward to welcoming many global fertilizer sellers and buyers onto the platform in coming weeks.”
In the Fertilizer Exchange statement of 8 December, Misr Fertilizers Production Company (MOPCO) from Egypt, a leading producer of urea, said: “We look forward to seeing how the project develops and to see if it can add value to our already good distribution channels.”
The platform will also cover water-soluble fertilizers, Sunderland told New Ag International.
At launch, Fertilizer Exchange’s customers will have access to a number of embedded services in the platform including shipping, insurance, and inspection, said the statement. Fertilizer Exchange also announced that Direct Hedge, a leading broker in Over-the-counter (OTC) futures contracts for fertilizer, will offer users of the platform up-to-date pricing information on forward fertilizer contracts.
The Fertilizer Exchange platform is being built by Fujitsu using the same technology it developed for Rice Exchange. “It allows for price discovery, digital documentation, and smart contracts that reduce risk, increase transparency, and boost productivity,” Fertilizer Exchange said.