TTIFC launches new e-commerce platform for farmers

TO facilitate the modernisation of agricultural trade, the Trinidad and Tobago Financial Centre (TTIFC) has launched AgriConnect – an e-commerce platform which enables cashless transactions between farmers and commercial buyers.

In collaboration with the National Agricultural Marketing and Development Corporation (Namdevco), UN Capital Development Fund (UNCDF) and Public Good Studio, the platform was launched at One Fintech Avenue, Port of Spain, on March 25.

By connecting with Namdevco-certified farmers, AgriConnect can facilitate the provision of fresh, high-quality produce to commercial buyers such as grocery stores.

Through the platform, both farmers and buyers benefit from real-time market data, transparent pricing, faster payments and lower transaction costs.

The digital payment system also reduces the risks that come with cash transactions.

Since its pilot phase, which began in November 2024, AgriConnect has onboarded 30 farmers of various produce types and facilitated almost $300,000 in transactions at eight per cent above market rate.

Partnerships have already been established with commercial entities such as MS Food City, Better Deal Supermarket, the South-West Regional Health Authority and the School Feeding Programme.

At the launch, Agriculture, Land and Fisheries Minister Kazim Hosein applauded the platform’s potential to enhance the agriculture sector.

"The launch of AgriConnect is a manifestation of policy in action. This government has long recognised that food security is national security. True resilience in agriculture means empowering our farmers with tools for the future.

"For far too long the agriculture sector has been excluded from the digital transformation sweeping across other industries.

"Farmers, particularly smallholder farmers, have struggled with market information irregularity and limited access to buyers. Today that changes.

"AgriConnect represents the way forward and a practical solution that addresses deep-rooted inefficiencies in our local and regional agriculture industry.

Hosein said the AgriConnect platform opens up the world of e-commerce and digital finance to farmers, many of whom are first-time users of this kind of technology.

"We often speak of the ease of doing business in TT and AgriConnect contributes directly to that goal. It streamlines procurement, reduces spoilage and cuts middleman costs.

"This platform embodies our government’s vision of digital equality. Agriculture has often been viewed as a sector left behind in technology. We believe that farmers are not just producers of food, they are entrepreneurs, data managers and business owners. And like all businesses, they deserve more."

As the platform emerges from its pilot phase, TTIFC plans to expand the capabilities of AgriConnect by introducing additional e-commerce channels including digital wallets, patent service providers and the use of debit and credit cards to enhance financial access.