A large trading company affected by lack of USD in Nigeria
From a peak of $200 million a year in trading rice along the Asia-Africa corridors, the revenue dropped to almost zero following a ban of using USD for rice importation in Nigeria. Binkabi would help the company and Nigeria still maintaining importation of essential food items whilst not spending the country's dwindling USD reserves as a result in the collapse of crude oil price.
Cote d'Ivoire. Realities of cashew trading on the ground
Cote d'Ivoire exports $600 million worth of cashew nuts to Vietnam and imports around $150 million worth of rice. Currently the settlement is done on a gross basis resulting ultimately in extra costs for farmers. With Binkabi not only that significant FX conversion costs could be saved but smaller players can also enter the export market which traditionally is reserved for large players with established contacts, access to finance and supply chain expertise.
A new comer to Asia Africa commodity trading
As a new comer to the commodity space trading in sesame, cashew, sheanut, finding buyers is Aethon's number 1 priority. Aethon is to work with Binkabi to find buyers from Vietnam and other countries in East Asia. It is also look for an more sustainable model than back-to-back trades as intermediaries are increasingly being cut out of future trades once the end-buyers and sellers identify one another.
Vietnam. Loc Troi to export directly to Africa
Loc Troi is a top agribusiness in Vietnam specialising in crop protection distribution and rice processing and exporting. The group works with 40,000 smallholder farming families and generate $150 million in rice revenue. It is looking to expand the export markets to cover Africa.
Citrus export trade from South Africa
South Africa Citrus industry exports around 100 million carton of citrus a year valuing at around $700 million. Much of the exports are handled by agents who take around 7% of Delivery-In-Port price without taking on much risk. Small growers have have to trust their agents to make the best deal for them which is not always the case. As a result, a lot of growers have gone out of business. There is an opportunity to connect sellers directly with buyers worldwide and transform citrus sales and marketing into a lean and transparent operation.