Virtex Grain Exchange Ltd (Virtex) was created in Saskatchewan in 2009 after the closing of the exclusively farmer owned Farm Corp United Grain Pool Ltd formally known as Farm Corp Marketing International. Virtex consists of a small group of farmers from Farm Corp plus new farmer shareholders.
Virtex acts as a grain selling agent of all types of grain for its current
members and owners. Its main sales focus is an exclusive hulless barley
contract program. Within Virtex’s business model is an intention to
build a hulless barley food processing plant within three to four years.
To fill the gap behind the CWB with a private central selling agent that is controlled by the farmers who use it. To create a single representative in the market for farmers that will sell all grain on behalf of its members giving each farmer the choice to price check individually or sell through centralized collective grain blocks. The ultimate goal is to increase profit margin per acre.
Farmers have no control over the prices we receive and the prices we pay for inputs leaving us vulnerable to a price squeeze due to a globalized environment of few buyers of grain and a few sellers of inputs. We are price takers. Furthermore the forces of Mother Nature have a major impact on our one chance for producing a crop every year. The result is that we are in a very high risk business. We have one simple objective with Virtex.
To increase the profit margin per acre by increasing the market poser pricing for each individual farm member without being forced to change the size of our farms.