We are often asked the question by farmers: ‘is benchmarking actually going to result in better performance for my business?’
First, the process;
All Price Check customers are given a score out of 10, per buying season (Spring & Autumn each year). This shows how well they are buying compared to the rest of the market: 10/10 would mean you have the best prices on every single product you buy.
Across 2017-19, the average score for new customers has held at 6.4 (high 9.1; low 2.7).
And the results?
We work with all customers to build an improvement plan to get them to a score of 9/10 as quickly as possible.
This means a £25/Ha saving for a wheat crop, straight to the farm’s bottom line, every year. These are not theoretical numbers – being achieved on many farms all across the UK. In the most extreme cases we have seen improvements at over £25/Ha.
Our Price Check service uses data tools to analyse your invoice prices, and give you total transparency over the market, product by product. If you want to improve your score – and get an important boost to your farming bottom line – register below or call our team to get set up.
In our next article on Ag Chem, we explore the price dynamics when products reach the end of their patent. If you haven't already, read our previous analysis of our Ag Chem price database that shows a 0.5% decrease in real farm paid prices 2018-19.
Source: analysis of YAGRO Price Check data 2017-19
Ag Chem Price Inflation Report 2018-19
Opportunities in dynamic price movements
Our data team did a detailed analysis of the YAGRO Ag Chem price database showing a 0.5% decrease in real farm paid prices 2018-19. Understanding these moves across 1’500 products is not an easy job. However: the dynamics of the market show how significant cost reduction opportunities might exist, even where average inflation is flat. Accurate product understanding and selection is critical – as is direct control of your purchasing, so you can pick and choose to follow the opportunities.