GrainCorp, GrainInnovate Co-Lead $9M Investment in ZoomAgri
Fraud has been all too rampant in the grain industry in recent years, as a string of multi-million dollar schemes have been featured in the news, going so far as to spark the USDA’s National Organic Program to release new rules early this year aimed at stopping organic food crime, according to Global AgInvesting.
“This rule-making amends the United States Department of Agriculture (USDA) organic regulations to strengthen oversight and enforcement of the production, handling, and sale of organic agricultural products,” stated the USDA. “The amendments protect integrity in the organic supply chain and build consumer and industry trust in the USDA organic label by strengthening organic control systems, improving farm to market traceability, and providing robust enforcement of the USDA organic regulations.”
Amid this market scenario, did you know that export grain can be analyzed up to 14 times before it reaches a customers’ port? I didn’t.
With such cumbersome systems in place, and with the greater adoption of AI and other new technologies, it only follows that this existing framework is a target for improvement through technology.
MORE BY GLOBAL AGINVESTING
Ceres Imaging Launches Portfolio Insights for AI-Enabled Ag Asset Management
Orchard Robotics Gains $3.8M to Build Robots and AI to Power Precision Crop Management
Argentine agtech startup ZoomAgri is a global company stepping in to fill the need by using AI and machine learning for varietal recognition and quality testing on the Australian market.
Read more at Global AgInvesting.
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