Modern technologies allow farmers to use accurate crop, climate, and yield data to optimize production and land management. Agricultural data can become a valuable service enabling more specialized production and decisions based on market supply and demand. The growing demand for organic and non-GMO crops has led to the creation of market information services, such as to better understand price and demand trends. Traceability and transparency, enhanced by technology, allow producers to prove origin and cultivation practices, creating opportunities for premiums in the markets. Digital platforms, such as Brazil's Grao Direto, facilitate negotiations between grain buyers and sellers, but face challenges related to technology adoption and high costs. Concerns about data privacy and equipment compatibility sometimes hinder the adoption of new agricultural technologies. The agriculture industry can leverage the experiences of other sectors to manage the challenges of large-scale data collection, while also developing tools such as derivative contracts or tailored insurance products.
Source : Wall Street Journal
