Agriculture

A 21st century approach to cattle trading - digitising an analogue agricultural market with our auction platforms.

NovaFori empowers the agricultural industry to embrace digital change

We build highly reliable and scalable marketplace and auction software to conduct multiple and simultaneous online auctions, providing both sellers and buyers with a transparent and efficient mechanism to transact agricultural commodities.

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Challenges / Opportunities

Price volatility

Agricultural commodity prices can be highly volatile due to factors such as weather conditions, geopolitical events, and market speculation.

Online auction platforms

Implementing online auction platforms can increase market transparency and efficiency, allowing buyers and sellers to interact in real-time and discover fair prices for agricultural commodities.

Market fragmentation and information asymmetry

Multiple intermediaries and opaque pricing mechanisms, leads to Information asymmetry between buyers and sellers, making it difficult for buyers and sellers to find fair prices.

Auction and trading technology for supply chain traceability

Utilising supply chain visibility platforms powered by IoT technologies can enhance transparency and enable proactive risk management in the supply chain.

Supply chain inefficiencies and seasonal fluctuation

Inefficiencies in the agricultural supply chain and seasonal fluctuation can contribute to price fluctuations and reduce market transparency.

Marketplace data analytics

Leveraging data science and analytics from auction marketplaces can provide insights into price trends, supply-demand dynamics, and quality variations, enabling more informed decision-making.

Lack of price discovery mechanisms

Adapting to shifting consumer preferences, such as increased demand can be challenging.

Quality certification systems & supply chain optimisation

Implementing quality certification systems can standardise quality assessments for agricultural commodities, enhancing buyer confidence in transactions.

Global competition

Fixed priced marketplaces may lack robust price discovery mechanisms, making it difficult for participants to determine fair market prices for agricultural commodities.

Collaborative partnerships & alliances

This can help agricultural manufacturers pool resources and expertise to address common challenges and stay competitive in the global market.

Building digital auction platforms to scale your business

Designed to provide U.S. and Canadian cattle buyers and sellers with an efficient, cost-effective trading and payment service, equipped with dispute resolution

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