The Indian Coffee Board has announced to launch a new blockchain powered e-marketplace for coffee. Dr. Anup Wadhwan, Commerce Secretary; Mr Jose DausterSette, Executive Director (International Coffee Organization, Nairobi, Kenya) and Rahul Chhabra, India’s High Commissioner to Kenya activated this project.
Indian coffee is grown under the shade, handpicked and then sundried manually by the coffee farmers. Indian coffee is highly reputed in the food and beverage industry and is considered a premium product. The production of coffee is dominant in the hilly areas of southern states of India with Karnataka accounting the total production for 71%, followed by Kerela with 21% & Tamil Nadu with 5% of the overall production.
As per the Coffee Board, the profit share of coffee farmers is very meagre, as the transparency from procurement to pay is little. With the new blockchain-powered marketplace application, the aim is to bring transparency to the Indian Coffee supply chain, maintaining the quality of Indian coffee and ensuring that coffee farmers are compensated fairly for their product.
By introducing blockchain in the coffee market, the Indian Coffee Board hopes that this will help in building and maintaining the Indian coffee as a luxury, premium beverage and will also eliminate the need for intermediaries in the supply chain division of Indian coffee.