The Market Information Service is an independent commercial organisation that has been providing market information to growers and buyers since 1992.

The conversation was very productive and while it was clear that real-time data based on actual sales was a shared objective, the logistical challenges and financial challenges of putting something like that in place are significant.

In relation to the current market information provided by MIS, Growcom said it was impressed by the level of cross-referencing the data received to ensure it was an accurate record of the day’s prices. 

MIS goes to some lengths to check retrospectively that the system it has in place to identify the prices they are providing to the marketplace are as accurate as possible. “It was really interesting to see how the MIS cross reference the information provided by the wholesalers with data from buyers and then check the accuracy of their data with real sales data available to them on a weekly basis.”

The data provided in the daily grower reports is normally delivered by 10.30am on the day of trading and contains information from the Brisbane, Sydney, Adelaide and Melbourne markets. This data provides the minimum and maximum prices for different commodities but it does not tell the grower what their own produce sold for – that remains information that can only be provided by the wholesaler.

The MIS data tells a grower what the ranges paid for their commodity were on any day and if used strategically the MIS data can enable growers to make decisions about where to send their products to achieve the best prices.

Some growers have voiced concerns to Growcom regarding the impartiality of the MIS and the accuracy of the information. It replied that it remains satisfied that as the buyers are key users of the service, this acts as a check against misleading information being provided to MIS.

While a number of Growers use the MIS some baulk at paying for it. The service was free many years ago when delivered by the Government, but MIS is now a private business and it has to charge a fee for the service – fees are certainly not unreasonable.

The pursuit of real-time data, based on actual sales, remains a shared objective but the MIS provides the best possible data in a timely manner using currently available technology. Growcom says it will be continuing its discussions with MIS and exploring further the opportunity to progress toward real-time systems.