SourceTrace partners with AgNext to create tech platform for food chain traceability

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SourceTrace, a traceability solution provider, has tied up with agritech start-up AgNext in order to build a technology platform – TraceNext – for providing complete food value chain traceability from the farm gates to the consumer.

The platform ‘TraceNext’ would help the commodity value chains trace food origin and chain of custody, monitor ethical and sustainable practices used in cultivating crops among others. In addition, the platform will also help ensure blockchain and fair trade practices in commodity supply chains.

It is important to note that global traceability market, in 2017, was worth $10 billion and expected to more than double to over $20 billion by 2025.