App was developed in response to industry criticism around price transparency
Queensland wholesaler representative, Brismark, has announced the launch of the Brisbane Markets Price Report service – a mobile and web-based application built to provide better wholesale price transparency for growers sending their fresh produce to the Brisbane markets.
The app provides a verifiable Market Price Report for transactions that occur at the Brisbane Markets, addressing a longstanding, recognised industry need for transparent pricing data.
Brismark chief executive and Brisbane Markets managing director and chief executive, Andrew Young, said the service was an industry-led initiative designed to help address concerns raised by grower groups, the federal government, and the Australian Competition and Consumer Commission (ACCC) around the transparency of fresh produce wholesale pricing within the fresh produce industry.
“The current Price Reports that have been available are based on discussions and observations, not actual sales data,” said Young.
“While they have proven valuable in providing timely feedback on prices, the lack of factually based verifiable market price information has resulted in criticism of the fresh produce wholesaling sector, which is what our members have set out to address with the app.”
The Brisbane Markets Price Report uses data derived from weekday transaction invoice data sent by Brisbane Markets wholesalers to the Brismark Credit Service, which acts as the financial clearinghouse for the Brisbane Markets.
“The app provides easy access to wholesale produce sales data in one location and is real data based on actual transactions that have occurred,” said Young.
The app has a range of subscription options, allowing users to view the daily low, high, average, and most sold wholesale produce prices.
“We believe that the app will be a useful tool for growers, buyers and other businesses that operate across the fresh produce supply chain, providing them with better market price transparency,” said Young.
