AgFarm and Combined Rural Traders (CRT) have announced a partnership that will see AgFarm’s input finance program ‘Accelerate’ made available through CRT stores in broadacre cropping areas around Australia.
The new strategic partnership was announced at the CRT Conference held in Perth last week.
Agfarm CEO Ron McCalman said the ‘Accelerate’ input finance program has been in the market for the past five years, and will now be easier for more broadacre farmers to access through the CRT network.
In a media release announcing the partnership, he said it came at a good time for broadacre farmers: “It’s no secret broadacre enterprises across the country are expanding, and with this, there is a growing need for innovative finance, and the need for multiple financiers to work together. This is the purpose of Agfarm Accelerate.”
He said a tough season in certain areas had added additional cashflow pressures for the coming season, and many farmers were looking at ways to improve cashflow to put this season’s crop in the ground.
“We hope this release will assist to ease the pressure and move on with next season’s crop.”
Agfarm and CRT have worked together for many years he said, mainly with the indexed grain marketing program Agfarm Advantage.
Executive General Manager of CRT, Greg O’Neil said most CRT stores currently offer a limited range of finance models to broadacre farmers, however, in many cases they had been restricted due to a number of factors, in being able to offer seasonal finance more broadly .
“The introduction of Agfarm Accelerate will allow post-harvest payment terms, which will better suit their farming clientele”, Mr O’Neil said.
Source: AgFarm and CRT