Today’s ACCC Report and the 2015 Horticultural Code of Conduct review emphasise the need for the industry to adopt more inclusive and transparent trade practices, as existing trade mechanisms directly impact Australia’s industry growth prospects. HiveXchange CEO Antonio Palanca believes e-commerce is the key to delivering better trade outcomes for Australian farmers into the future.
Talking about the potential for e-commerce platforms to address the gaps in the horticultural code, Mr. Palanca said,
“Our mission is to build the capacity of primary producers to respond to market changes and be more profitable into the future. Digital technology is changing global supply chains especially in our region and e-commerce platforms give Australian farmers the opportunity to be on the leading edge of these trends. For the HiveXchange team, the journey to try and use technology to fix common market failures has only just begun – every transaction, every interaction helps us to support sustainable industry growth. As a result, the HiveXchange offers automated contracting (in line with the horticultural code), automated levy collection and reporting to the Department of Agriculture, real-time pricing, full trade transparency and effective dispute management protocols.”
Launched in May 2016 the HiveXchange is Australia’s first national, B2B, e-commerce marketplace for wholesale produce. The HiveXchange provides members with access to an independent, trust-based, trade facilitation platform for a low transaction fee. Palanca refers to the HiveXchange’s innovative design as T-ecommerce™ or trust based e-commerce.
“It’s a revolutionary way of conducting digital business and we believe the future of horticultural trade in Australia. The T-ecommerce™ model respects the industry’s history of using trusted, reputable networks to manage risk and product diversity. By weaving trust-based protocols into an e-commerce fabric we have built a marketplace that fosters fair trade, delivers access to national markets and efficiencies that help producers optimise the value of their harvest. Our clients are already seeing the tremendous value of these protocols and the short, data rich, supply chains they facilitate.”
The HiveXchange was designed in Australia, using the same cloud-based architectures deployed by NetFlix, Paypal, and Ebay. Following 18 months of field research and development, it has been custom-built for the fresh produce industry. It allows primary producers, market agents and buyers to connect and trade online with immediacy, full transparency and at a real market price – trades can be made securely- anywhere, anytime, using everyday communication devices on a standard internet browser connection.
These clients are now eager to diversify the lines and suppliers they are purchasing through the HiveXchange, to ensure year round supply of quality produce for their clients. Mr. Palanca encourages quality producers and wholesale buyers looking to take advantage of new market opportunities to contact the team and enjoy the benefits of a secure, efficient and dynamic trading environment.