KPMG’s report on Origo’s sustainable methods and reduction in food wastage
The agri FinTech firm’s milestones have been recognized by the investment report, indicating strides made in bringing sustainable yet modern practices to the agri sector
cityairnews
Jun 2, 2021 04:19
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New Delhi: Recognized as India’s fastest-growing, home-grown agri FinTech and supply chain firms, Origo Commodities is creating waves by initiating several new methods, impacting resource maximization and reduction of food wastage. A recent report by the world-renowned consulting firm, KPMG, has evaluated Origo’s role in enhancing food security, liquidity, and seamless methodologies for agri stakeholders across the country.
The results show that Origo’s efficient warehousing and scientific storage practices have been instrumental in reducing the wastage of grain and agricultural stocks, thereby reducing the carbon footprint and the overall impact on the environment. The achievements are in line with the United Nations Sustainable Development Goals, as Origo’s handling of 4 million MT of commodities were done sustainably, avoiding 0.3 million MT of wastage, worth approximately $20 million.
It further lauds initiatives about procurement finance and the securitized debt instruments, which are instilling confidence in agri commodities investment as an alternative. Since its inception, Origo Commodities has initiated several solutions, some of which are among the first in the country. For decades, India has battled liquidity-related challenges in the agricultural sector, food wastage, water scarcity, and inefficient warehousing, etc., among other things.
Speaking on the occasion, Sunoor Kaul, Co-Founder of Origo Commodities, said “The evaluation of Origo’s efforts by an esteemed organization like KPMG has added new meaning to the work we do. To be identified as change-makers for the sector through a detailed review of our activities only goes to show how seriously we take sustainable agricultural practices and their impact on the whole country. India’s food and water security are major challenges, and new-age solutions are required to address the shortcomings. We now wish to keep up our work and be instrumental in improving systems without compromising on the environment.”
Riding on Origo’s experience of scientifically handling government stocks of nearly 3.23 million MT of commodities, other players are now keen to introduce solutions and instruments to a sector that has been yearning for sustainable and reliable public distribution systems while relying on the integration of new technologies to improve conditions for the sector’s growth.
