A new foreign direct investment tech firm operating from Thimphu Tech Park is set to change how Bhutanese farmers access international markets. Krishibridge Agrifin Technologies, the parent company based at Jorhat, in Assam, India, will launch the Himalayan Commodity Exchange, a web application, next week, aiming to connect local producers directly with global buyers.
The digital platform aims to bridge market access gaps that have kept Bhutanese agricultural products largely invisible to international buyers.
In its first phase, the platform will involve farmers from Samtse focusing on large black cardamom, chosen for its high export volume and revenue potential. The programme will gradually expand to Chhukha, Dagana, and Sarpang.
“Being able to promote their products all across without any boundaries or geographies is an asset, and with that vision, we have introduced our platform, which is the Himalayan Commodity Exchange,” said Shyam Soni, Founder/CEO, Krishibridge Agrifin Technologies.
The Himalayan Commodity Exchange will function as a business-to-business web application, allowing producers, aggregators, and exporters to connect in a secure and professional environment.
To maintain trust and transparency, all participants on the platform must undergo credential verification. Bhutanese sellers are required to submit tax reference numbers and trading licences along with details of their produce, while buyers must complete similar verification procedures.
“After the sellers and the buyers complete their registration, the company will fact-check the details provided in detail. Only after verification and confirmation of the details, we will approve their registration,” said Pema Yangzom, Lead Developer, Himalayan Commodity Exchange.
To support farmers unfamiliar with digital platforms, a Dzongkha-language version of the application will be developed in the future.
“Irrespective of the knowledge or trade gap, if there is a platform where, let’s say, a farmer from Norgaygang can sell his product to the end consumer in Hyderabad on a real-time basis, I’m sure that is one of the most amazing things which could happen in current times,” said Shyam Soni, Founder/CEO, Krishibridge Agrifin Technologies.
Future versions would also incorporate artificial intelligence and machine learning to increase efficiency and personalised digital experiences.
“The farmer gains immediate price clarity and fast payment, while the buyer gets guaranteed quality and automated quality control. For both, it replaces slow, uncertain negotiation with a fast, transparent, and trusted transaction,” said Lekzin Jamtsho, AI and Machine Learning Expert, Himalayan Commodity Exchange.
The company conducted a five-month study involving growers and officials from the Royal Securities Exchange of Bhutan, the Food Corporation of Bhutan, and the Department of Agricultural Marketing and Cooperatives, to understand local agricultural trade dynamics.
The platform aims to onboard 500 producers initially, with a long-term target of 8,000 growers. Target markets include India, the United States, the United Kingdom, Australia, and the Middle East.
The company plans to expand the exchange to other high-value commodities such as natural cordyceps and millets, potentially opening new global opportunities for Bhutanese farmers.
Kelzang Chhophyel
Edited by Phub Gyem
