On today’s show, I’m chatting with Pablo Borquez. Pablo is the founder of ProducePay, a new financing solution providing farmers, who grow fresh fruits and vegetables, with immediate access to liquidity for enhanced cash flow. In our chat today, Pablo and I will talk about the issues with the current way farmers sell and profit from crops, the lack of digital infrastructure in this market, how food waste can be greatly decreased, and how technology like this can result in cheaper food for consumers
Check out ProducePay at the links below
Pablo’s company enables growers to obtain 96% value of their shipments and they also underwrite farming and trading risks – like weather destroying crops, etc. – something nobody was willing to touch.
- Matching retailers to growers – reducing waste:
- ProducePay takes the middle man out of the equation so grocers can receive produce more efficiently, at lower prices, and have visibility into a grower’s capacity and sustainability practices.
- They’re changing the typical distribution model where produce travels ~1,600 miles to your plate, handled 4x – 8x, marked up 3x – 6x because of changing hands, and rebranded 2x making it difficult to trace where produce came from and how it was grown. All this contributes to the 40% of wasted produce.
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Show Notes:
- Pablos Background
- Inspiration behind ProducePay
- How this empowers growers
- A lake of a digital infrastructure for selling crops
- Impact on the food supply chain
- What can consumers gain from this technology?
- Reducing food waste – 4-6 middlemen are involved in your food
- How farmers can monetize their crops better
- What’s controlling ost – supply/demand, pricing index, weather, etc
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