Addressing Information Asymmetry in the Agri-Food Industry for Global Food Security

Strategic Insights -

In the face of rising global trade tensions and climate change, the agri-food industry is grappling with unprecedented supply chain disruptions. CEO Shin Ho-shik of Tridge, a leading AI-based agri-food data platform, believes that information asymmetry is a critical issue that needs to be addressed to ensure global food security. Shin will highlight the importance of adopting open, data-driven frameworks to enhance predictability and cooperation during an Asia-Pacific Economic Cooperation (APEC) workshop on food security. Tridge's platform provides real-time data on transactions, productions, and market trends, enabling food firms to make informed decisions.

Key Takeaways:

  • Tridge's AI-powered platform provides real-time data on agri-food transactions, productions, and market trends, reducing information search time by up to 80%.
  • The company's Tridge EYE suite offers three core functions: Eye Speaker for alert notifications, Eye Shelf for curated insight libraries, and Eye Book for purchasing trend analysis.
  • Tridge's platform has helped companies like a major U.S. food manufacturer adapt to supply chain disruptions by exploring alternative sourcing countries.
  • The agri-food industry's conventional value chain is driven by relationships, resulting in producers not knowing where their products end up and buyers not knowing where to turn when supply fails.
  • Tridge's solutions aim to address information asymmetry and redesign the entire value chain with real-time data.
  • The company seeks to make its services more accessible to small businesses and those in emerging markets through subscription-based products.
  • Investments in the agri-food industry for food security are considered the most environmentally friendly strategy to maximize benefits for humanity with the least amount of energy.

Statistics:

  • Tridge was valued at 3.6 trillion won ($3 billion) in 2022 and has offices in 44 countries, providing real-time data and analysis of over 4,000 products in 200 countries for over 488,000 enterprise users.
  • The company was designated as a specialized agri-food trade company by Korea's Ministry of Trade, Industry, and Energy in 2024.
  • Tridge claims to reduce information search time by up to 80%.
  • The agri-food industry's global value chain is complex, involving ingredients sourced from Australia, Malaysia, Ukraine, Argentina, and other countries.

Sources:

  • The Korea Times
  • The Asia-Pacific Economic Cooperation (APEC)
  • Tridge's website
  • Tridge's press releases