17 Mar Utilizing Trends to Keep your Company Innovative and Relevant.
Last week was Commodity Classic 2022 in New Orleans. We attended to support clients, catch up with old friends, meet new ones and see what trends our clients can take advantage of. No matter what industry you are in, you should keep an eye on what programs the U.S. Government is rolling out, what new technologies are being developed, and what product trends are gaining traction. This is a big key to keeping your company innovative and relevant. What did we learn at Commodity Classic?
Grants for Domestic Fertilizer
USDA Ag Secretary Tom Vilsack announced a new grant program that will use $250M in Commodity Credit Corporation funds to bring “gap” financing to new, independent, domestic fertilizer production. The program will support fertilizer production that is:
- Independent and increases competition in a concentrated market.
- Made in America by domestic companies and reduce the reliance on foreign supplies.
- Innovative production methods that improve the production of fertilizers.
- Sustainable and reduces greenhouse gas impacts of transportation, production, and use of renewable energy sources, feedstocks, and formulations.
- Farmer-focused products that provide support and opportunities for U.S. agriculture commodity producers.
Axiom has several clients that meet these criteria and we’ll be working on their behalf to secure funding via these grants. Would you like to know if there are grants available in your industry? Give us a call.
NASA and Farmers?
One of the most unique exhibitors at this year’s Commodity Classic was NASA. They were showcasing, GEO-CropSim. It was developed by NASA Harvest in partnership with the USDA Agricultural Research Service and is a new technology that will help inform ag policy and management decisions at scale.
Using a combination of modeling and remote sensing, it will inform leaf area, the water content in plants, and land temperature. This will identify geographies that are struggling with crop production and give more accurate froward projections of yields at scale.
This year it seemed like the number of companies offering a “Biological” product had increased dramatically. According to the Biostimulants Council biostimulants are biological or naturally-derived additives, including but not limited to bacterial or microbial inoculants, biochemical materials, amino acids, humic acids, fulvic acid, seaweed extract, and other similar materials.
Just a couple of years ago it was rare to see these types of products at a National Show. In recent years, as the cost of traditional mineral-based fertilizer has climbed and as farmers reach optimal nutrient levels with the help of precision ag technologies, they are looking for the next thing to improve their yields.
In addition to yield increases, biostimulants can be green alternatives to traditional chemical-based products. One example is a sustainably produced biostimulant chelator that produces 75-90% less CO2 emissions than EDTA, a chemical-based chelator.
For agricultural products companies, it’s clear the future of agriculture is sustainably and domestically produced products. Products that can be easily applied with current precision application technologies and will reduce water consumption. Lastly, products that are biological or green will have a distinct advantage. Of course, for those of us watching these trends, it isn’t a surprise. We’ve just been waiting for the industry to catch up.
Are you having problems spotting the trends in your industry vertical? Do you need help innovating to stay relevant in your market? We can help, let’s talk.