Uncertain Dry Beans Outlook Requires Digital Trade Tools

The predictions for this year’s South African dry bean harvest range from negative outlooks from farmers heavily affected by the rains, to positive reviews based on recently released data by industry leaders. As of the end of January 2022 many predict that the total 2021/22 summer crop plantings were at 4,21 million hectares, which is 0,4% up from the previous production season.

Higher agricultural input costs, load-shedding, and increased electricity and fuel costs however, are also still effecting farmers, buyers, and consumers. The only thing that is clear is that no one is certain on what this year’s dry beans harvest will yield either in terms of quality or quantity. In these uncertain times, digital trading platforms such as HelloChoice are even more essential to bring increased transparency, reliability, and stability to the market.

With its fully digital and transparent trading platform, HelloChoice brings new efficiencies and benefits to both sellers and buyers where everyone in the supply chain can in real-time see the latest pricing and related supply and demand dynamics.

HelloChoice’s digital trading platform offers reliable grading and tracking services, direct connections between multiple sellers and buyers, and overcomes cash flow risk. The platform offers a variety of trading options, all enabling higher profit margins for farmers, and lower prices and wider choice for buyers. The entire marketplace therefore becomes infinitely more efficient with both buyers and sellers able to be more competitive and have confidence in the products they are trading.

Farmers can also set a pricing anchor prior to harvest with HelloChoice’s Future Contract feature enabling them to secure a specific price with a buyer for a portion of their yield prior to harvest. This service assists in establishing the overall market prices but also gives security to both sellers and buyers ahead of the harvest period.

Additional peace of mind for both parties comes from the grading, tracking and tracing service that HelloChoice offers to the dry beans sector. HelloChoice offers an on-site dry beans grading process that measures all required key indicators in order to reliably grade stock that is then sealed and labelled enabling tracking and traceability of stock. This grading and labelling process brings market security to farmers at the point of harvest, and enables buyers to have confidence in the lots being purchased.

Other digital trading options include daily auctions with products listed daily for auction through the HelloChoice mobile app. The Buy It Now (BIN) marketplace and the TradeAlerts features further streamline the process for users as they can set their own specific trade preferences and get in-app messages and emails when trade opportunities meeting their needs become available.

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