Wholesale market for the first digital fruits and vegetables

General Exchange has been selected to establish a wholesale market
January 20, 2020
Wholesale market for the first digital fruits and vegetables

General Exchange has been selected to establish a wholesale market for the first digital fruits and vegetables - expected to reduce huge intermediates gaps.

The digital trade platform will allow small farmers to enjoy the advantage of growing and selling anonymously without the pressures of middlemen.

General Exchange was selected by the Department of Agriculture to establish a digital wholesale market for fresh fruits and vegetables of its kind in the world. The innovative platform allows farmers and buyers to sell and buy fruit and vegetables with an elaborate and transparent price system without dealing with external parties

The digital market serves as a technological solution to the existing wholesale market, which is still largely managed by outdated sales methods, that involve intermediary costs that reach hundreds of percent, leaving farmers with low labor costs and causing fruit and vegetable prices to rise. The total extent of agricultural disputes in agricultural produce in Israel is estimated at over  20 billion ILS, while consumers pay about 48 billion ILS for the same commodity to the supply chain, which means 28 Billion ILS can be saved every year by using a technology trading method. This staggering gap is one of the main reasons for Israel's high cost of living, as the average household expense of agricultural produce exceeds 15% of the entire monthly expense. 

G-EX's system is structured in such a way that trading is carried out anonymously, without the fear of putting pressure on farmers by forceful marketing networks with farmers who negotiate tough for them. Even if a farmer offers the market a small amount of produce, it is added to other farmers' quantities to group them, and meet demand, thus providing a solution to trade preference with large farmers over small ones and creating market balance.
The field is backed by a technology logistics system that provides a complete solution for the entire supply chain and includes collection from the seller, control and sorting, quality assurance and separation of fruits and vegetables of various qualities and sizes, at the company's logistics center, packaging and sending the produce to the buyer as ordered.

General Exchange was founded by developers Yinon Raz and Raviv Sivan, who developed the end-to-end solution that includes a trading arena, warehouse, and logistics services.
The founders expect to reduce the agricultural commodity prices by tens of percent for the customers such as hospitality, catering, retail, food factories, hospitals, nursing homes, sheltered and any factor that requires substantial produce, while allowing farmers to get the real price for their work, with a fair and transparent trading process.

The revolution is led by digital trading platforms in almost every aspect of our life. Flights, hotels, transportation, clothes, food, and many more are getting cheaper and more accessible, thanks to digital trading platforms.   

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