The actual price of farm chemicals is often hidden from farmers using techniques like rebates, black box programs and price matching. That means Canadian farmers may be paying different prices to buy the exact same products.
The lack of transparency in the ag chemicals market can add costs to an already expensive crop production essential. As farmers fight for margin, every dollar matters. Small price variations can add up and have a big impact.
When prices are transparent, farmers are equipped to find the best price for their farm, and are empowered to make better purchasing decisions. But because farmers are limited in their access to open, competitive markets, every data or price point available to them makes a difference. Increasing price transparency is a central part of increasing farmers’ abilities to find the right product at the right price for their farm.
Farmers Business NetworkSM, a farmer-member network with millions of acres represented in Canada, has aggregated and analyzed more than 1,000 chemical invoices and price quotes submitted by FBNSM network members from across Canada. The inaugural Canada Price Transparency Report outlines pricing variations observed on some common ag chemicals. These prices do not include rebates.
Inaugural Price Transparency Report Findings
Results of the inaugural Canada Price Transparency Report show that for common products, such as Liberty®, farmers pay as much as $9.22 per litre and as little as $6.67 per litre, a 32 percent difference. For other products with higher price tags, such as Viper® ADV, some farmers pay up to 24 percent more per litre than others. These kinds of price gaps are common for products regardless of average cost or product type.
“Since we launched in 2015, we’ve had tremendous interest from Canadian farmers. We’re excited to now be able to directly serve Canadian farmers with the FBN Analytics system and the FBN Direct e-commerce platform,” said Tom Staples, General Manager for Farmers Business Network in Canada. “We’re ready to serve farmers across the prairie provinces, building a network that will boost their profitability.”
Canadian farmers can now take advantage of the rapidly growing FBN network providing farmers with valuable agronomic information, input price transparency and input e-commerce.
About the FBN network
At the core of Farmers Business Network is a mission to put Farmers FirstSM and create transparent markets around agricultural inputs. Price transparency is central to turning this mission into reality. As more farmers join the FBN network in Canada, we promise to help them understand what is really being paid for each input. By aggregating and analyzing large, diverse datasets, the FBN network helps farmers make better decisions based on historical trends and performance across many farms in the region.
Click here to download the full Canada Price Transparency report.