Launched in 2018, our founders (who were just finishing their second years at university) discovered how messed up the rice industry was. Over 30% of rice produced is wasted. From that moment on, the founders made a commitment to put a change to this.
We started off by focusing on the most critical cause of this loss within the supply chain, the drying of paddy after it is harvested. We began by offering a drying service utilizing an open-source sustainable dryer powered by rice husks themselves! Our service was able to reduce 30% of the losses faced by farmers and produce better quality grain for them. Through this, farmers were able to reduce their losses and increase their income.
Our impact didn’t go unnoticed as Rice Inc went on to win numerous prizes such as the HULT Prize, the Norman Borlaug Prize and Univenture Competitions. With recognition from President Bill Clinton, the United Nations and the International Rice Research Institute, we were also featured in various international outlets like Forbes, BBC, Fortune Magazine and Business Insider.
However, we realized that despite our drying service having profound impact, farmers were still facing low prices at sale. This was because of a fragmented and inefficient rice supply chain, a lack of access to international markets and unfair prices forced unto farmers. Thus, we finally settled on a vision for Rice Inc.
Rice Inc will build the supply chain of the future; an ethical, sustainable and zero waste supply chain. We will create a supply chain that provides fair and ethical wages to farmers for their rice.
A supply chain powered by green technologies that are better for our planet. A supply chain that ensures no grain is lost utilizing the latest technologies.
However, how do we get the resources to build this supply chain? Instead of charity, we decided to start a for profit, for purpose rice business and to build the supply chain of the future through a sustainable business. For every bag of rice sold, profits are reinvested into building our supply chain that will help farmers earn more, waste less and be more eco-friendly!