The world’s buyers and sellers of beans, peas, lentils and chickpeas now have a powerful new tool for efficient, easy and profitable online trading with the launch of AgEx.com’s new commodity site — pulseEx.
The pulseEx site launch was announced in Sun Valley, Idaho at the U.S. Dry Bean Convention, which wrapped up Tuesday. PulseEx, accessible at www.agex.com, is now online as an information community with statistics, price trends, weather and a host of other valuable market information for the global pulses industry. “Pulses” is the industry term for dry beans and peas, lentils and other legumes.
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AgEx.com also announced that it is making final preparations for the launch of its secure virtual trading floor for pulses. The trading floor, the first online exchange to serve the pulses industry, is scheduled to be in action in time for the marketing of this year’s crop.
“We saw a tremendous amount of interest and excitement about our site among the industry leaders attending the convention,” said Duffy Segale, president for pulses at AgEx.com. “Whether they are growers, buyers or sellers, most people are eager for opportunities to take advantage of the powerful opportunities provided by online trading.”
Segale noted that AgEx.com and pulseEx have worldwide reach and that trading can be completed between buyers and sellers in the U.S., Canada or almost anywhere in the world. He said he looks forward to assisting buyers and sellers in exploring ways they can save costs and time and increase profits by linking to the pulseEx exchange.
“This allows us to combine the efficiency and speed of the Internet with AgEx.com’s successful business model and experience in trading of other commodities, such as almonds, walnuts and tomatoes, to extend this success to the world of pulses,” Segale said.
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By GlobalDataAgEx.com’s walnut and almond exchanges have moved over 4.5 million pounds of product worth nearly $6 million (U.S.) since the exchanges debuted earlier this spring. Segale said he believes trading in pulses could eventually total hundreds of millions of dollars.
Since the launch of its first trading floor in February of this year, AgEx.com has rapidly expanded its online trading community. Sites found within AgEx.com include trading floors and information sites for products including almonds, walnuts, pecans, fresh tomatoes and juice concentrates. Sites for new commodities will be added on an ongoing basis, and by the first quarter of 2001, AgEx.com expects to have launched dozens of exchange floors in produce, juice concentrate, dried fruit, rice, and tree nut categories.
“Response has been terrific, and our members seem to be glad this easy-to-use alternative to traditional trading has come along,” Royce Nicolaisen, AgEx.com CEO, said. “Our goal is to revolutionize the sale and purchase of agricultural products one market at a time.”
AgEx.com is an Internet-based e-commerce and content corporation with offices in Sacramento, San Francisco and New York, with field offices in Europe and Asia. Tailored to the global food trade community, AgEx.com’s services include custom-designed electronic exchanges for specific high-value agricultural crops; online auction services; in-depth news and data reporting; and support services, such as finance, insurance and logistics. The company uses the power of modern communications technology to facilitate and greatly improve the efficiency of commercial trading among the world’s producers, processors, shippers and marketers of food products.
