Launch of online livestock trading platform

2 February 2009
Media Release

PGG Wrightson launches online livestock trading platform

New Zealand’s leading provider of services to the rural sector, PGG Wrightson Limited, is bringing e-commerce to the rural sector with the first specialist auction website for livestock trading.

Agonline will launch on 2 February 2009 and will integrate the expertise of PGG Wrightson’s national field force of livestock agents with an on-line auction platform. The first stage will allow dairy farmers to trade herds, replacement heifers and calves. Later this year, Agonline will be extended to include sheep, beef, deer and other commercial stock.

“A very high percentage of dairy farmers are already using the internet to access information and manage their businesses,” says Mike Skilling, Group General Manager Customer Services.

“Agonline will further extend those capabilities to be the only fully functioning, easy to navigate, auction system dedicated and tailored to the requirements of agri-business. It will be designed to deliver absolute confidence and satisfaction with e-commerce to vendors and purchasers alike.”

“The resources and depth of experience of PGG Wrightson will ensure that in a very short time, www.Agonline.co.nz will change the way farming business is transacted.”

Agonline will initially focus on the well established and robust Contract for Sale and Purchase of Dairy Cattle familiar to the dairy industry, with listings procured with an exclusive agency agreement.

Auctions will run over a two week period, closing at 7pm. The exclusive agency agreement will provide buyers certainty that the stock remain available until the close of the auction. Listings are not live unless this exclusivity is agreed, nor without the required LIC data. This data is used by many prospective buyers as an independent performance measure and reinforces the quality of the listings.

PGG Wrightson dairy representatives will be an essential part of the process to verify the detailed specifications listed, monitor condition, facilitate herd inspections, ensure bidders questions are answered online and manage the transaction through to delivery – as they do with current Sale and Purchase of Dairy Cattle contracts.

“The involvement of PGG Wrightson’s skilled national field force of livestock representatives and the expertise they provide to vendors and purchasers will ensure

that Agonline is a high quality trading environment distinguished from all other on-line platforms,” Mr Skilling says.

By registering as a buyer, bidders agree to credit checks being undertaken by PGG Wrightson. Payment for purchases will be facilitated by PGG Wrightson through a secure payment system. The electronic contractual obligations of vendors and purchasers will be legally binding and identical to the current Contract for Sale and Purchase of Dairy Cattle. PGG Wrightson Finance may also provide funds to complete transactions.

“We are confident that after a few months experience with dairy sector transactions, Agonline will be extended to provide a live auction platform for the trading of other classes of commercial livestock.

“This is a significant development for the rural sector. Others entities have made attempts to enter the on-line space. So far these have largely been information sites that allow vendors to list but do not provide the ability to transact on-line in a manner that reflects the structure and requirements of rural business. The deep relationship PGG Wrightson has with rural business will ensure Agonline is a fully functioning e-auction platform that is simple to use and empowers the farming sector to explore all the possibilities e-commerce has to offer,” Mr Skilling says.

ENDS

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