The Poultry Exchange’s beta launch includes six suppliers, but will continue to enroll innovative buyers and sellers. As trading volume increases, The Poultry Exchange will provide real time verified market data to market participants.
"We are excited to bring this innovation to the commercial chicken supply chain," said Janette Barnard, CEO and founder of The Poultry Exchange. "Trust and relationships are currency in this industry, yet there is an overwhelming sense of distrust within the opaque spot market. The Poultry Exchange provides the industry a transparent and efficient way to handle spot market transactions."
The features of the trading platform have been designed with the nuances of the chicken industry in mind. "The Poultry Exchange will allow buyers to quickly see what is available in the market and access more suppliers directly. Sellers will be able to access more buyers and find the right buyer in a timely manner. The negotiation process will be streamlined for both sides of the transaction through a rules based bidding process," said Barnard.
Buyers range in size, geography, and function from single plant further processors to regional and national distributors to multi-plant food manufacturers. Suppliers range from companies with high commodity exposure to primarily specialty producers.
Buyers interested in being part of the launch can sign up at the company website.