FarmHedge, the sales app of farmers and the Lagerhäuser, was able to expand its market share in Austria in 2020 while also enjoying international success.
In 2017, FarmHedge began its successful cooperation with the Agro Innovation Lab, RWA Raiffeisen Ware Austria AG, and the Lagerhäuser. While three test Lagerhaus cooperatives were initially involved in the project, the number of participating Lagerhaus cooperatives grew to 27 in 2020. The app enables the Lagerhäuser to send “spot offers” to around 3,000 farmers, or customers, who can then, in turn, order the product directly via the app – which is linked to their Lagerhaus account. In addition to this, farmers can also use the app to directly offer their products to the Lagerhäuser and to process sales. With the help of such activities, turnover passed the three-million-euro mark in 2020.
While agricultural spot offers and product purchases remain the core of the FarmHedge offer, the platform has developed significantly in the past two years.
FarmHedge is now also offering its first digital solutions for agricultural companies outside Austria. In autumn 2020, for example, the first version of a peer-to-peer trading platform was launched, initially as a means of trading seeds between RWA subsidiaries in eight Central and Eastern European countries. And in its local Irish and British markets, a current focus of FarmHedge is the development of customized solutions for feed trading between producers and end customers.
In addition to expanding its activities in Ireland, the UK, and Eastern Europe, a primary objective of FarmHedge in 2021 is to enter the German market.
RWA Raiffeisen Ware Austria AG holds a 22% stake in FarmHedge.