Crop Plan Warranty
Tim Hammerich
News Reporter
There’s always risk associated with trying new approaches on the farm, and often new products and practices come with extra costs. Fintech company Growers Edge wants to help farmers lower this risk by offering a crop plan warranty through local retailers. Chief Commercial Officer Todd Robran explains.
Robran… “ The retailer the manufacturer knows if a farmer does A, B, and C. If they plant my seed, use my seed treatment and maybe apply my fungicide as I recommend it. We know the farmer has a really good chance of being successful. Growers Edge takes that recommendation and then we'll say, okay, Mr. Retailer, you recommend that to your farmers. If it doesn't perform as expected - generally that's measured by their historical yields, their APH. So if the farmer doesn't hit his historical production, there'd be a warranty payment to cover some of that risk. Maybe it's the cost of the products, maybe it's some other measurement that retailer wants to use, but that warranty helps take some of that downside risk away for a farmer and wants to try something new, isn't quite sure that it's the right thing for their operation.”
Growers Edge also works with retailers to help them with input financing.
