Fertilizer Exchange, the world’s first blockchain-enabled physical fertilizer trading platform today announced its partnership with leading independent provider of commodity price benchmarks, Argus. The partnership enables buyers and sellers to access selected Argus pricing data and news on Fertilizer Exchange to make better and more confident trading decisions which they could directly act on− all in one platform utilising robust security standards from blockchain technology.
Fertilizer markets remain highly volatile, making it challenging to establish the right market prices. The lead time to assess bids or offers sometimes results in missed opportunities. Fertilizer Exchange enables buyers and sellers to access selected news headlines and price assessments by Argus to stay on top of shifts in the market, more easily evaluate trade requests, and make informed decisions when countering prices in its integrated digital trading platform.
Argus will provide Fertilizer Exchange with eight prices for urea and phosphates which are the average of the previous week’s daily prices.
Phil Sunderland, General Manager of Fertilizer Exchange, said: “We are excited to partner with Argus Media to add industry-leading commodity market intelligence to the Fertilizer Exchange platform. With the partnership, we further empower fertilizer buyers and sellers to accurately assess and act on new business opportunities, confidently conduct negotiations, and execute on trades seamlessly in a secure and robust digital trading platform.”
Adrian Binks, Chairman and Chief Executive of Argus Media said: “We were pleased to work with Fertilizer Exchange to provide representative prices and underlying news for urea and phosphates. These new averages will bring transparency to these opaque markets and enable traders to have confidence that they have a clear understanding of the underlying value of the physical commodity”.