Rice is a traditional staple food and a defining feature in the culture of many countries especially those in Asia. The world rice output is expected to be 570 million tons by 2025. Despite its importance, some of the rice producing nations, including Malaysia, are still importing rice for their domestic consumption
There are more than 35 million paddy farmers in Malaysia, Indonesia and Thailand, with most of them owning farms of less than 1 ha each. Despite their vital role in ensuring food security for their countries, these farmers are largely living in poverty. This is mainly due to their low adaptation of agriculture technologies resulting in high cultivation costs and low production yield.
The COVID-19 pandemic has led to fear of import restrictions, highlighting the importance of food security for rice importing countries and the need for enhancing local rice production. To ensure optimum local rice production - the issue of our main rice producers - the rice farmers’ poverty needs to be immediately addressed.
Estet Sepakat (ES) is at the forefront of solving these issues through the implementation of its Agriculture Technology as a Service (ATaaS) business in the agriculture sector of Malaysia and neighbouring ASEAN countries.
Nurture a traditional sector for growth through ATaaS to improve and sustain farmers’ livelihood.
As an ATaaS company, Estet Sepakat adopts efficient machines, technologies and data insights in its operations with a focus on building a community of equipment, technology and data-savvy farmers. Our immediate focus is to aid the paddy farmers in Malaysia and within three years the farmers in Indonesia and Thailand.
The global Agriculture Technology-as-a-Service (ATaaS) market is expected to reach US$2,492.6 million by 2024, at a CAGR of 21.75% during the forecast period from 2019 to 2024. Estet Sepakat’s estimated Serviceable Available Market (SAM) in year 5 is RM82 billion covering Malaysia, Indonesia and Thailand.