Leading Thai food conglomerate using blockchain for traceability
Thailand’s largest food exporter said that it will begin using blockchain for traceability in its shrimp business to be more competitive in the global marketplace. Charoen Pokphand (CP) Foods has already implemented blockchain in its massive chicken and pork enterprises.
“The quality and safety of food products is CP Foods’ top priority, as illustrated in the company’s digitalization of its product traceability system,” said Oraparn Mungmisri, Assistant Vice President for the Global Standard System Center for CP Foods.
Traceability is important for consumers in the areas of food safety and the environment. It allows importers and consumers concerned with those issues to know if the food they eat has been sourced and produced responsibly and sustainably.
“The technology enables us to track back the entire value chain of a product, including the raw material source, manufacturing facility and production processes,” Oraparn added.
“Blockchain Technology facilitates consumers’ rapid access to product information by scanning a QR code on the packaging,” continued Oraparn. “In addition to the origins of products, consumers are informed about certifications of quality and food safety standards and information related to sustainable products, including greenhouse gas emissions.”
This is especially important in the shrimp and seafood industry. While most of CP Foods’ shrimp are farmed, some are caught at sea. Blockchain Traceability technology, which works through a shared and immutable digital ledger, is widely accepted in many industries including banking, sourcing and procurement, and supply chain.
Photo courtesy of https://www.cpfworldwide.com/en/media-center/2260