Agricultural trade operations
made safer, faster and more cost-efficient
Covantis is a trusted platform that improves efficiency, transparency, and information-exchange for everyone feeding the world.
What is Covantis
Covantis is an advanced platform revolutionizing post-trade execution workflows that’s transforming how the world moves agricultural commodities. Founded by leading global trading companies in the agricultural sector, Covantis connects the industry on a single digital platform to streamline trade execution for grains, oilseeds, byproducts, sugar and vegetable oils.
The platform is used by over 55 global and regional forward-thinking agri trading firms, no matter the size – small or large. The company is trusted by players throughout the supply chain, including trading companies, exporters, FOB sellers, charterers and CFR buyers. It’s also used daily by surveyors, agents and others in the wider agri commodity ecosystem.
Usage statistics for 2024
63%
Share of Physical Exports Captured in Active Markets
256 M
Million Metric Tons of Export Volume Captured
808 M
Million Metric Tons of Transactional Volume
6.8K+
Vessels
7k+
Structured DIs
288K+
Documents & Messages
1900
Bypasses and Circles
18 M
Paper Volume Netted
2600+
Circles & Washouts
Our founding members
Industry challenges
For too long the industry has dealt with post-trade execution processes that fail to meet the demands of the modern agri trade landscape. Participants are hindered with inefficient, manual processes for communicating and performing trade execution. Extensive research and collaboration with industry participants has brought to light the following pain points:
Inefficiency
Outdated systems, disjointed communication and slow document processes mean companies can struggle to stay on top of their post-trade execution processes. This can lead to trade execution teams not being able to act in time upon vital new information, delayed documents and missed opportunities to streamline processes.
Risk
The use of manual processes and archaic systems to carry out string management, issue contractual notices, and communicate with relevant parties heightens risk; it increases the number of data errors, risk of penalties, delayed shipments and overall costs per voyage.
Paper-based and slow processes
Lack of industry standardization with documentary instructions coupled with manual paper-based processes causes delays for documents presentation. Not only can this lead to lost documents and letters of indemnity (LOIs), but it also increases the chance of forged documents. All of this raises risk and costs.
