GROWERS can offer grain at a firm price to an open market with secure settlement via Agfarm Exchange, a product which was released this week by agribusiness service provider, Agfarm Pty Ltd.
Agfarm Exchange is an online trading platform where growers can trade their grain on the Agfarm website through Clear Grain Exchange (CGX).
“While we did initially toy with the idea of developing our own online platform, we believe utilising an already developed platform and more than nine years’ experience CGX brings would provide more value for growers,” Agfarm chief executive officer Ron McCalman, said
“The Agfarm Exchange is also designed to enhance our existing products, such as the Agfarm broker network and the recently launched Agfarm Fast Cash product,” he said.
Fast Cash allows growers to withdraw cash straight from the silo, offering a 50 percent upfront payment within one business day from transfer confirmation, and provides a six-month window to sell their grain.
This enables growers to separate their cashflow needs from their grain marketing.
- Agfarm Exchange launched on Wednesday.