Federated Farmers, StockX sign partnership agreement

Federated Farmers, StockX sign partnership agreement

Helping its members save money, and easily and securely trade stock on-line, underpins the decision by Federated Farmers NZ to sign a new strategic partnership with StockX.

"The trend for all manner of business transactions to be done on-line is accelerating and it’s no different for farming," Federated Farmers Chief Executive Graham Smith says.

Farmers are up against adverse weather, roller-coaster financial and export market trading conditions, not to mention waves of new regulations.

"Every dollar counts and StockX delivers a digital platform that gives farmers more flexibility," Graham says.

"Federated Farmers is improving its own digital footprint and we’re delighted to partner with an industry leader such as StockX."

Since its launch a little over a year ago by farmer shareholders, more than 1,500 farmers around the nation have registered with StockX to trade their livestock.

It’s free to register and list livestock for sale or wanted to buy. The only cost is a 2.5% commission on any stock sold.

Not only does the digital platform enable farmers to extend their sale or purchasing reach well beyond their own district but gains from lower commissions, fees and transport costs stay behind the farm gate.

North Canterbury farmer Dan Hodgen says all the feedback he’s had about StockX is that it’s "straight forward to use and provides a level of security without an over-the-top cost".

The Federated Farmers Meat & Fibre spokesman for North Canterbury learned about those advantages when drought encouraged him to look to the North Island to sell lambs. He was advised there was no demand but StockX provided a chance to test that for himself.

"You’re chasing best value and the biggest thing is that it opens a lot more doors. You’re accessing a wider market than perhaps your agent is wanting to deal with."

Jason Roebuck, managing director of StockX, says to link with "the iconic institution of Federated Farmers is fantastic.

"The value of transparency, payment security and the capacity to deal direct with other farmers has been incredibly well received. We look forward to this partnership delivering significant value to Federated Farmers’ members nationally."

ENDS

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