Silver Spring, MD, November 6, 2013— As demand for organic and non-GMO food continues to grow worldwide, market infrastructure, in the form of better information and more effective procurement tools, have lagged behind. Mercaris, a new company addressing these issues with critical market data and trading for organic and non-GMO agricultural commodity crops, announced today that it has successfully held its first online auction on the Mercaris Trading Platform. The Mercaris Trading Platform is the first electronic venue that facilitates the buying and selling of identity-preserved physical commodities, providing participants a broader business network, reduced transaction costs, and decreased financial risk.
“We’re pleased to bring this first-of-its-kind service to the industry,” said Founder and CEO Kellee James. “Our platform allows both the buyer and seller to realize the true market value for their products, access new partners, and helps manage credit risk, which benefits all involved.”
The inaugural auction was a reverse auction to supply non-GMO feed grade corn to Triple M Farms in Lebanon, PA. Potential suppliers were able to submit their offers to supply the product on November 4 & 5, 2013. The auction was oversubscribed and Triple M was able to source their full order.
Steve Musser of Triple M Farms stated, “Triple M Farms has seen significant growth in our non-GMO feed-production business. The Mercaris Trading Platform helps us to find new supply at competitive prices and new suppliers for our growing business.”
The Mercaris Trading Platform complements the Mercaris Data Service, which was launched in October. The Mercaris Data Service allows subscribers to track and compare spot and forward prices of identity-preserved corn, soybeans and wheat markets across various regions of the U.S. and Canada. It also provides monthly statistics on U.S. imports of these crops. The reports are expected to be of particular interest to producers, elevators, mills, manufacturers and retailers in the organic & non-GMO food and feed sectors that stand to gain an edge and benefit from insight into market conditions. New subscribers can sign up for the service and access information at www.mercariscompany.com.
For more information contact Mercaris at [email protected] or 301-495-4900