A new twist on the old corn exchanges

William Wright, who has worked almost a quarter of a century in the grain trade from his base in the Borders, said he saw a lot of merit in basing the internet company on the old style of trading where farmers would offer their grain and other goods around the booths in the corn exchanges.

"We can do that on the internet and all the farmer or producer has to do is place on the site the various commodities they have available. This is done with no commission charge or fee for doing so.

"They can achieve multiple bids for their goods from registered trade buyers. Equally, they can upload quote requests for farm inputs such as seed, fertiliser and straights to receive quotations from all registered trade suppliers."

He stressed that all information was totally confidential and that farmers using the service were under no obligation to either accept or acknowledge bids or quotes.

"Essentially, it's totally risk-free for the farmer," he said. "The site has been built to accommodate the way the agri-trade currently operates.

"The trading model has simply been lifted as it is and placed online. All contracts are handled as they are now, privately between buyer and seller and they come with all the certificates and contract requirements."

He stressed that his company did not take commission from either farmers or from the trade buyers and that EuropeanGrain.com was not involved in any point of the transaction other than to help set it up.

The income generated by the site comes through the trade buyers paying a regular monthly fee. "The purpose of the site is purely to improve market transparency and business efficiency. Simply put, EuropeanGrain.com makes it easier for buyers and sellers to find one another."

The company was established in July this year and is already working with approximately 150 producers geographically scattered from the Black Isle down to southern England.

It also has a number of trade buyers and both the numbers of farmers and buyers are increasing all the time, he stated.

Although it is currently only working in the UK, Wright said he hoped it would soon echo its name and trade Europe wide