|Sioux Falls company helping farmers save money
FBN-Saving Farmers Money
Mark Russo-KELO, Sioux Falls - March 9, 2017
SIOUX FALLS, SD - A Sioux Falls-based high tech company says that it is helping farmers and ranchers save thousands of dollars on seed, chemicals and other input costs each year.
The Farmers Business Network has just received a $40 million dollar boost from Google Ventures to further expand its unique approach to farmers helping farmers cut costs and increase profits.
"Farmers are anonymously sharing the prices they're paying on inputs and we're taking that and aggregating that data anonymously and returning that data back to all the farmers," explains FBN's Andy Cahoy. Producers then have a real world estimate of prices - a kind of inputs Blue Book - and they can buy where prices are best.
Take seeds for example.
"So we are publishing, for example, what the average and high and low price is for any one of hundreds of different seed hybrids as well, so that when farmers are making their seed decisions they can know what a good deal is," says Cahoy.
Cahoy claims FBN is helping producers save up to 50 percent on critical inputs.