Bunge Partnership Expands Farmer Users in Brazil
Under deal, 170,000 registered users in Brazil can sell produce online to the U.S. firm
Orbia, an online farm products trade platform majority owned by Germany's Bayer AG, is betting that a deal with Bunge Ltd. will pave the way for a planned international foray, Chief Executive Ivan Moreno told Reuters on Monday.
Under the partnership with Bunge announced in September, Orbia’s 170,000 registered farm users in Brazil can sell produce online to the U.S. firm, which secured exclusive origination rights to the platform.
Moreno, a former Bayer executive, said in an interview the deal allows farmers to sell corn and soy on the futures or spot market in exchange for cash or credit to buy inputs on Orbia for use in future seasons, a transaction typically known as “barter.”