18 June 2024

Get ready for improved pricing transparency when the Brisbane Markets launches its new Price Report service!

The new app will allow growers sending their produce to the Brisbane Markets and the fresh produce industry in Queensland to gain clarity around pricing and level of trade that is sold through Queensland’s central market.

The mobile and web-based app has been developed and funded by Brismark, and will provide a verifiable Market Price Report for transactions that occur at the Brisbane Markets, addressing a longstanding, recognised industry need for better clarity of trade in the supply chain.

Brismark and Brisbane Markets Limited CEO, Andrew Young, said that the Price Report service was an industry-led initiative to help address concerns raised by grower groups, the Federal Government, and the Australian Competition and Consumer Commission around the transparency of fresh produce wholesale pricing at the central markets.

“Current price reports available are based on discussion and observations. This new report is directly based upon actual sales data,” Mr Young said.

“While the current reports have proven valuable in providing timely feedback on prices over many years, the lack of factually based verifiable market price information has resulted in criticism of the Market wholesaling sector, which is what our wholesaler members have set out to address with the app.”

The Brisbane Markets Price Report uses data derived from weekday transactions through Brismark’s Credit Service, which acts as the financial clearinghouse for the Brisbane Markets.

“This pricing information will not reflect purchases made by the larger retail chains as they do not purchase through Brismark’s Credit Service,” Mr Young said.

“The Brisbane Markets Price Report provides easy access to wholesale produce prices in one location and is based on actual and verifiable transaction data.”

The app has a range of subscription options, allowing users to view the daily low, high, average, and most sales on wholesale produce prices. Depending on the subscription option chosen, users have access to up to six months of pricing data for up to 50 produce lines or varieties sold by wholesalers at the Brisbane Markets. Customised subscription plans will also be available by negotiation.

“We believe that the App will be very useful for growers, buyers, and other businesses that operate across the fresh produce supply chain, providing them with better market price transparency from our wholesalers,” Mr Young said.

More information on the Brisbane Markets Price Report can be found at brisbanemarketspricereport.com.au and the App can be downloaded from the Apple App store or the Google Play store.

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