New sys­tem al­lows grow­ers to set price and choose buy­ers for wheat

Countryman - - NEWS - Jenne Bram­mer

Farm­ers can now set a price they want for their wheat and sell di­rectly to global traders, fol­low­ing the launch of Mar­ket­Place by CBH-owned grain price com­par­i­son provider Dai­lyGrain.

The new sys­tem lets farm­ers view their in­ven­tory of wheat de­liv­ered to CBH and of­fer parcels to the mar­ket at a price they choose.

At the same time, grain buy­ers post live bids. When a bid and an of­fer are matched, a trade is ex­e­cuted with the grain au­to­mat­i­cally nom­i­nated. De­tails are then sent to the buyer for pay­ment, with no pa­per­work re­quire­ment.

Mar­ket­Place also al­lows grow­ers to choose which buy­ers to ac­cept bids from, pro­vid­ing eas­ier ac­cess for grow­ers to deal with buy­ers they trust, un­der suit­able pay­ment terms.

Dai­lyGrain prod­ucts co-or­di­na­tor Chris Badgery-Parker said Mar­ket­Place pro­vided wheat grow­ers with in­for­ma­tion to make in­formed mar­ket­ing de­ci­sions and sell with con­fi­dence. He said pro­vided there was a good up­take this har­vest, the ser­vice could be rolled out to other grains.

Mr Badgery-Parker said Mar­ket­Place was a com­ple­men­tary rather than com­pet­i­tive ser­vice to CBH’s trad­ing arm. Dai­lyGrain is wholly owned by CBH.

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