Update: One Young World which is a UK-based not-for-profit organization chose Ant Commodity for their Top Initiatives from Around The World List. Link: https://www.oneyoungworld.com/news-item/your-monthly-list-top-initiatives-around-world
What is Ant Commodity?
Ant Commodity is a marketplace that connects worldwide producers and buyers of commodities to trade in an efficient and risk-free environment.
The current method of commodity trading has prevailed for many years. After the producer makes the commodity, it passes through various traders and brokers before reaching the end-user of the commodity. Because of this, producers pay a hefty price to sell their commodities and the process is hugely inefficient.
Traditional auctions are designed to cater to local participants, and buyers must be present at the time of inspections and bidding. Everything is offline and takes longer to complete.
E-commerce sites like Alibaba are not designed for commodity trading and only give a mere introduction to the practice. Establishing the credibility is hard when there is no way to prove the genuineness of the parties involved.
Ant Commodity Service Offerings
Ant Commodity focuses on creating a marketplace through which producers can sell commodities directly to buyers located anywhere.
As part of the main service, the producer sends the commodity to an Ant Commodity warehouse or for inspection by an Ant Commodity field partner. Ant Commodity lists the commodity online with detailed information (pictures, testing reports, etc.) about the batch. Once the sale is completed via a global auction, Ant Commodity arranges the delivery and payment.
Using this technology, even small-scale producers can get the highest price for their commodity by consolidating smaller & larger units. Buyers can compare prices with producers in different countries on one platform. Assurance of quality and security of the transaction makes commodity trading efficient and risk-free. It improves price discovery & liquidity.
Minimum Viable Product (MVP)
Please refer this page:
My qualifications for launching this venture are based on my years of hands-on business experience. Every business idea I have for Ant Commodity has a story connected to my previous businesses.
When I initially commenced manufacturing “processed rubber,” I joined the Sri Lanka Rubber Auction to buy “raw rubber.” I learned that there were few producers and most of them were traders at the Auction. To procure straight from producers, I had to travel to villages which took me six months to fully fabricate my supplier network.
I learned from the producers that the majority of them weren’t aware of the rubber auction. Some who knew did not want to participate because of regulatory burden, complicated process, and language barrier.
It took me around a year to get into the export market. Even though I had the best price and quality product than the traders, no buyer was willing to buy from me owing to the fact that there was no way to prove the authenticity of my business. To get my first export order, I had to travel to Malaysia where I was triumphant in persuading two companies to concur to buy rubber from me.
I learned that producers in Vietnam, Myanmar, and Papua New Guinea have the lowest prices for “raw rubber”. Because I did neither had the time nor resources to go to such places, I was only able to buy from a trader in Vietnam.
I am learning every day and establishing relationships with professionals to utilize their skills when mounting and growing this project.
If you are interested in joining the team or have any suggestions, please use the form below to connect with H L Ananda Piyankara.