Every market needs a buyer and a seller. In the big commodities, there can be many stakeholders in between the two most important entities. What if the middlemen were removed to actually directly connect buyers and sellers around the world? This is the goal of Agriprocity, founded by Nicole Rogers and based in Dubai.
The Agriprocity story as told on the corporate website:
Agriprocity was born from a desire to disrupt the way agricultural commodities are traded. In the face of global food supply inequities, traditional systems of international tenders and market-based futures trading are not always effective.
Our solution: an agri-food trading model that focuses on longer-term, transparent and direct relationships between the farm and food processor based on a farmer’s cost of production.
An idea is just an idea until you rally some troops…
For Canadian farmers, connecting directly with buyers of a certain commodity can be a challenge. After decades of the Canadian Wheat Board monopoly, Western Canadian farmers are very used to simply hauling to the elevator as a means of “marketing” their crop. As balance, Ontario growers are very close to major markets, such as Toronto, and have access to the Eastern Seaboard, but still largely ship bulk commodities. In contrast to both those markets, pulse growers and IP soybean growers are much more familiar to the concept of shipping based on specific buyer specifications communicated by the buyer.
At the recent Agriculture Excellence Conference, Shaun Haney spoke with Nicole Rogers, founder of Agriprocity, to discuss the challenges and opportunities of the business and how it can be a very rewarding experience to remove the middleman in commodity transactions for both buyer and seller.