The spices industry is growing hotter with new-age technologies: Are you ready to thrive?
The Indian spices industry, with a massive growth surge in recent years, has played a pivotal role in driving the economic growth of the country. Despite economic slowdowns amid the covid-19 pandemic, the spices sector sustained its growth momentum with increased adoption of AI-based technologies, digitization & automated processes. It is also worth pointing out that this technological shift ensured quality-based fulfillment of the spice demand, amongst many other advancements, that witnessed a massive uptick in the last two years.
As experts say, the spices industry is expected to further grow at a CAGR of 10.8% by 2027. However, projecting growth with subjective, traditional processes can result in inevitable procurement losses for businesses. A switch to modern, tech-based solutions is imperative to compete & eliminate persisting losses due to:
- Human errors
- Time-consuming processes
- Manual tampering
- Delayed on-ground operations
Getting into grips with the growing demand for spices, both domestic & export, the leading & emerging industry players are increasingly opting for faster, safer & digital alternatives to keep in pace with the changing market. Businesses are ramping up their production potential with critical procurement insights & automated processes to sustain an upward growing graph in this era of agricultural transformation.
Integrating modernized growth with the age-old essence of spices, tech-powered solutions like AgNext’s full-stack “Qualix suite” are powering up the growth of numerous spice businesses. The all-in-one business intelligence platform Qualix combined with the portable, AI-on-the-edge devices is shaping the new-age agritech ecosystem. This has not only given businesses the power to conduct food quality assessments instantly but also allows critical business insights to make well-informed decisions at a faster pace.
- <1 min quality testing
- 10X boost in ROI
- 100% transparency
- Up to 50X savings on testing time
- End-to-end traceability
- Real-time data visibility
- Better price realization for all stakeholders
Not only is it incentivizing trade, particularly in the post-harvest ecosystem but is also driving multiple growth opportunities for businesses to align with the emerging demands, globally. With a standardized approach to quality management, AgNext is building a more efficient & safer ecosystem for spice businesses to leverage their potential, and boost ROI with transparent supply chain processes.
This one-of-its-kind solution can easily be integrated with an organization’s ERP system. The value that AgNext’s AI-driven solutions bring in, has already been celebrated by the who’s-who in the spices industry. Over 2000 farmers in Telangana and Meghalaya are already making the most of their yield via fairer price determination & ensuring significantly reduced losses with instant quality analysis via Qualix.
Incentivizing growth for all stakeholders with trust, transparency & traceability, “AgNext is creating a bigger impact on the spices industry by redefining post-harvest trade & ensuring quality food for billions!”