ADM, Chicago; Bunge, Ltd., White Plains, N.Y.; Cargill, Minneapolis; COFCO International, Hong Kong; Louis Dreyfus Co., The Netherlands; and Glencore Agriculture, Australia, the founding members of the industry-wide initiative to modernize global trade operations announced its new project name—Covantis.

The Covantis initiative also announced that Stefano Rettore will lead the project as an independent advisor during its development phase.

“I am delighted to help lead the Covantis initiative, as we build toward the launch of a ground-breaking new technology platform,” says Rettore. “Covantis offers a path to improve agricultural trade, unlocking significant value for all players across the supply chain. By working collaboratively with the industry, we have an opportunity to build a more effective, more efficient digital future for global trade.”