Dec. 5, 2017
Yagro, the Cambridge-based agtech company, have launched a new price comparison tool allowing farmers to anonymously compare what they are paying for their Ag Chem with verified prices from the rest of the market.
Gareth Davies, CEO of Yagro, said: “Ag Chem is one of the biggest variable spends on farm, yet there is very little reliable price information in the public domain. Farmers are often left guessing at fair market prices, and few have the time or facts to navigate through all the different product options. This is all solvable through technology and data, and I’m very excited to announce the launch of our Price Check feature for UK farmers.”
After signing up for Yagro Price Check, farmers confidentially submit their product invoices. Having done so, they can see how these prices compare against verified and anonymised data from their peers, giving peace of mind for some and tangible savings opportunities for others.
Yagro Price Check also lets farmers easily navigate brand alternatives, their prices, ingredients, concentrations and other information direct from the Pesticides Register of UK Authorised Products, allowing them to find the best value option in the market.
Davies comments: “Discovering and comparing alternative brands is where the technology gets really interesting. Take Amistar, for example, a popular azoxystrobin fungicide. Emergent data suggests that some farmers are paying around 30% more for their Amistar than others, and they’re paying over double the price of farmers who have switched to popular generic alternatives. This is where there’s potential to dramatically reduce a farm’s input costs.”
The tool is accessed through Yagro’s secure website for a monthly fee of £16. Farmers’ data is treated in complete confidentiality and Yagro commit not to sell the information to third parties.
Davies further commented: “Across many industries, online price transparency has resulted in better, fairer deals for buyers, particularly where consolidated suppliers hold a large amount of power - think of MySupermarket in groceries, MoneySupermarket in finance, USwitch in utilities, etc. The same will be true in Ag Chem.”
Price Check sits alongside Yagro’s Marketplace, where farmers can confidentially access quotes and order inputs direct from leading suppliers across fuel, fertiliser, seed, ag chem, and machinery parts.
“Ag Chem is the only area where we’ve seen major suppliers refuse to quote prices to farmers,” says Davies. “So we’ve built the Price Check tool to give farmers the visibility they need to keep control over their business.”
Yagro Price Check launched with over 10,000 verified price points from the market. The more farms that sign up and anonymously contribute their data, the more powerful the tool will become.