As the World Agri-Tech Innovation Summit in Mexico City edges closer, Pat McCullough, CEO & Chairperson of the Board at ProducePay will share his expertize on the panel: 'Ensuring the Financial Viability of Mexican Farming Operations: A Vertical-Wide Collaborative Approach' on October 30 at 10.30am CDMX. Prior to the event, Pat shares exciting company updates from its first impact report and key opportunities to scale the fresh produce supply chain in Mexico. Watch the 4 minute video or read the full transcript below:

ProducePay recently announced its first impact report highlighting key achievements in sustainability and supply chain efficiency within the fresh produce industry. Can you tell us more about some of your success stories?

 

[Pat McCullough]: We had a very important year. Last year, we did over $800 million of financing in farms, including 500 million of pre-season financing. That is 100% meeting the highest environmental and social standards that, frankly, the world has ever applied to farms. So that's a big deal for us. In addition to that, our table grape predictable Commerce program ensured that we avoided rejection of over 300 tons of produce, which is the equivalent of almost 655,000 meals. And you know, for retail, this includes collaboration between growers, marketers and retailers themselves, and this ensured that the volatility that normally exists in the industry was reduced through the predictability programs that we produce.

What are the opportunities to scale the fresh produce supply chain in Mexico in the next 5-10 years?

 

[Pat McCullough]: The view that we have is that Mexican farmers need more capital, and our job is to make sure there is secure and predictable paths to capital. We also have to make sure that income for growers, unit economics, and revenue that comes through retail is very, very important to the health and the sustainability of our Mexican farms. And then, of course, with increasing global demand and stable cash flow, the opportunity to diversify and expand beyond, you know, the markets that we generally serve is a big deal as well. We actually think Mexico can become an important source of supply, not just for the US, but also Europe and Asia.

At World Agri-Tech Mexico City, you will moderate a panel on ‘Ensuring the Financial Viability of Mexican Farming Operations: A Vertical-Wide Collaborative Approach.’ What are you most looking forward to talking about on this session?

 

[Pat McCullough]: There's no question that we believe that sustainable Mexican farming is key to, frankly, the Mexican economic GDP in the output. Having predictable pricing, guaranteed demand, essentially volume and early payments are some of the most important things to the viability of Mexican farming. And then we believe the volatility that's happened, primarily due to pricing and mother nature, are some of the most important things that we are trying to put predictability in place to ensure the viability and success of Mexican farming.