Commodities Intelligence Centre posts 26% increase in registered customers

Its e-trade platform’s cumulative gross merchandise volume also reached $17.6b.

Singapore-based physical commodities e-trade platform Commodities Intelligence Centre (CIC) has announced strong growth in FY2020 driven by the urgency for supply chains to digitalise during the pandemic.

The number of registered customers on the platform grew by 26% to reach 5,800 registered users in 2020.

The growth that CIC recorded on its e-trade platform despite the pandemic in 2020 has allowed it to accumulate a cumulative gross merchandise volume of $17.6b on the platform, an increase of over 30% from 2019.

“By making our platform and technologies affordable and easy to use, SMEs are able to easily onboard the platform and make use of these digital tools to grow their businesses. With global disruptions such as COVID-19 and the recent Suez Canal incident, we want to help SMEs build more sustainable and resilient businesses that can endure these challenging times as they grow and expand in Asia and to achieve greater trading synergies globally,” CIC CEO Peter Yu said.