Currency exchange for the Agriculture industry

Currency exchange for the Agriculture industry

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Save time and money on global payments within the agriculture industry

As currency exchange specialists, we offer a valuable and cost-effective service within agriculture finance helping to process and exchange the wide range of international payments that need to be made.

The agriculture sector is one of the most affected by constant volatility in exchange rates, particularly in the build up to Brexit. Our dedicated team of currency exchange experts understand the challenges that you face, which is why they are on hand to offer guidance and assistance where needed.

 

Foreign exchange for agriculture

In agriculture and agribusiness, the transferring of money from pounds to foreign currencies is often done for a number of reasons including importing agricultural machinery and other supplies from abroad, exporting goods to international buyers and shippers, and paying staff who send money back home to other countries.

 

How will currency exchange for agriculture change after Brexit?

Farms both large and small import agricultural machinery and supplies from the EU, sometimes pre-ordering items in advance, and may find themselves paying much more when converted than anticipated if the pound falls after the deal is agreed.

For agricultural workers, a continuing poor performance from the pound; the fast rate of growth in places like Romania; and Brexit concerns, mean the interest in coming to the UK to work seasonal jobs continues to wane drastically. Now, workers are enjoying the choice of 4 or 5 positions each which may cause salaries to go up, affecting the farmer’s bottom line.

All these factors can play a major role in preserving the profit for farmers but could potentially be managed by planning all your foreign exchange exposure and budgets well in advance.

 

What will happen to the Single Farm Payment after Brexit?

There are multiple reasons why farmers must be even more aware of the market and solutions available to them than ever before following Brexit. One of the most obvious changes brought on by Brexit is the adjustment in receiving the Single Farm Payment.

Currently, British farmers have the option to receive the subsidy from the EU in pounds or in euros, but the rate assigned for sterling payments may not be the most favourable. We have helped many farmers receive a euro payment and exchange into pounds. While the future of subsidies is in question and may not require foreign exchange in the future, we can help farmers make the most of any outstanding payments.

 

Account management expertise

At moneycorp, every business is assigned an account manager who understands the ins and outs of your sector and will guide you through currency volatility to ensure you are offered a full range of foreign exchange solutions tailored to your business needs. 

What we can offer your business

Send payments in 120+ currencies

Market updates to keep you informed of the currency movements

Risk management expertise

Easy upload functionality for mass payments

Competitive pricing giving you access to more than 15 liquidity providers

Competitive pricing giving you access to more than 15 liquidity providers

Exchange more than 120+ currencies

Exchange more than 120+ currencies

How the pound performance could affect your fruit salad?

How the pound performance could affect your fruit salad?

The struggling pound and uncertainty over Brexit is making fruit picking recruitment a struggle for UK farmers.

 

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