No 478 - Friday's Club Notes

The “Club Notes” for Friday, the 4th of April, 2025.

By Dwain Duxson - An Ag Enthusiast

The 30-day account monster

We are not going to talk about tariffs; let's wait til next week when the dust settles - Sometimes, we create something we think is right at the time, only in years to come to realise it is perhaps a problem. I am talking about the Ag Retailers' 30-day accounts. I guess many moons ago, the dollar volume of buying Ag inputs was a lot lower than it is now when the numbers are quite large, and it takes a bit of finding to pay for these inputs within the 30-day period. That's why many go over and use this system as an overdraft of sorts. I'd be guessing, but there would be hundreds of millions of dollars out on retailers' books at any one time, especially in peak buying periods like now. It's the old money-go-round way where I need you to pay me so I can pay them. This model is irreversible, and it would mean that to get it back to a tap-and-go situation, those hundreds of millions would need to be retrieved. That's not going to happen in our lifetime. It's interesting how the Grain industry went from the 30-day end-of-week payments to a couple of days, which has made a big difference. All of a sudden, after years of the Grain company collapses, the new payment model has given people faith to trade with confidence. Similar to the Water trading industry, you don't receive a drop of water until it is fully paid for. So the 30-day account Ag retail monster is here to stay. Do you use the credit available from the Retailers?  Reply to [email protected] or 0427 011 900

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