The Spanish social enterprise EthicHub is opening a new market for its small coffee producers to get better prices for their crops. This was reported in Spanish by the company Cointelegraph, and announced that they will be exporting coffee to Canada from their banking communities without banks.
“Canada is the third international market that can try the excellent coffee from the smallholder without bank account that make up the EthicHub platform. To achieve this new milestone, EthicHub will have the support and experience of Roasters and Warehousing Trading Co. Reference platform for the export and marketing of raw materials. This announcement expands the collaboration between the two companies, which signed an initial agreement in March last year to export 4.6 tons of strict-level arabica coffee in Europe to China, ”a statement said in a statement.
“”The planned route for this first excursion into the Canadian market has its origin in the port of Veracruz. After several days of crossing, the coffee arrives in the city of Calgary, Alberta”They added later.
In addition to China and Canada, coffee from EthicHubs’ small groups of coffee farmers without bank details can also be enjoyed in Spain. Last June, EthicHub opened an online shop with the aim of directly marketing this coffee.
According to the Spanish company With the introduction of the online shop, they have succeeded in eliminating unnecessary intermediaries in the entire distribution chain and enabling fairer sales of products, which has a direct impact on their farmers.
“”With the incorporation of Canada, EthicHub continues to grow to open up new international markets and reaffirms its goal to provide comprehensive services to millions of unsanitary small farmers around the world. For this work, EthicHub not only offers farmers much cheaper and more accessible finance through its project finance platform, but also allows them to directly market their production at better prices with the opening of international markets, ”they emphasized.
Interestingly, this isn’t the EthicHub’s first relationship with Canada. In March last year, the founders of the Spanish project were expected to visit the North American country to take part in the Chivas Venture World Finals, one of the benchmark prizes in the world of impact investing. However, the global circumstances surrounding COVID-19 led to the suspension of the world finals and the decision of the organization to distribute the prize among the finalists. Part of the business award was given by EthicHub to compensate platform users who suffered losses due to the COVID-19 health crisis.
In this regard, Gabriela Chang, co-founder of EthicHub stated:
“It has been very painful that, through no fault of their own, even after achieving zero percent clean failures for the second year in a row, the Ethichubbers suffered losses while all of us that make up the EthicHub family did our jobs and ours Have made a contribution. especially the farmers, who dutifully repaid their loans plus interest. The team’s decision was therefore unanimous: distribute part of the economic award received as a co-winner of Chivas Venture to compensate the most affected users and not to damage the funding channel of our farmers who have confirmed their reputation with the effort of its permanent Job “.
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