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Agrochemical firms turn to barter trade
Jul. 15, 2009
Agricultural-chemical giants Syngenta, Bayer and BASF are turning to the age-old concept of bartering, accepting crops instead of cash to help minimize credit risk in emerging markets. The companies already use bartering in South America, where Bayer has added specially trained salespeople in Brazil. The companies are considering using the approach in Eastern Europe.
For instance, Siberian farmer Alexei Maslov has too much grain and not enough cash for next year’s weed-killer. The solution to both concerns may be good old-fashioned barter.
"It would be great for us if we could get chemicals in exchange for grain,” Siberian farmer Maslov said in a July 2 phone interview. “Farmers are hungry for money in the spring, and this way contracts would be signed and chemicals delivered on time.”
"The weeds are up and doing well,” Maslov said. “If these farmers were getting chemicals in exchange for their crop, they’d be able to afford better herbicides.”
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