Digital farming services platform Jiva, owned by Olam, is closed down due to the tough economic conditions; over 600 employees affected

Olam Group Closes Down Digital Farmer Services Platform Jiva Ag

In a significant move, agribusiness giant Olam Group has announced the closure of its digital farmer services platform, Jiva Ag. The decision is part of Olam's Updated 2025 Re-organization Plan, which aims to de-leverage the company's balance sheet and make it debt-free and self-sustaining.

Launched in 2020, Jiva Ag served smallholder farmers across Asia and Africa, offering a range of services including agronomic advice, credit facilities for farm inputs, and access to helpful ag technologies. The closure affects 606 employees, with a majority based in Indonesia, India, Australia, and Singapore.

The Re-organization Plan also includes the responsible divestment of all Olam's assets and businesses over time. In 2022, the majority stake in Olam Agri was acquired by the ADQ, an Abu Dhabi-based investment company, which obtained a 51% share in Olam Agri. According to Reuters, Olam will divest its remaining 19.99% stake in Olam Agri three years after the completion of the first phase, giving SALIC full control of Olam Agri. Saudi Arabia's agricultural and livestock investment firm SALIC purchased a 44.58% stake in Olam Agri for $1.78 billion.

Olam Group reported a loss of S$13.2 million ($10 million) related to the impairment of intangible assets within the Incubating Businesses segment, primarily associated with Jiva Ag. The company has not provided further comment on the closure of Jiva Ag at the time of this report, and the intellectual property associated with Jiva Ag will be retained by Olam Group or one of its subsidiaries.

The company, which is one of the world's largest suppliers of coffee, cotton, rice, and cocoa beans, is reportedly working with impacted employees on potential redeployment within the company or severance packages. Six months ago, Indian agribusiness marketplace DeHaat acquired Jiva's AgriCentral business, an India-focused farmer app.

This development marks a significant shift for Olam Group as it continues to restructure its operations and focus on its core businesses. The closure of Jiva Ag is a testament to the company's commitment to streamlining its operations and ensuring long-term sustainability.

Digital farming services platform Jiva, owned by Olam, is closed down due to the tough economic conditions; over 600 employees affected