South African markets could suffer if Freshmark calls in debts
In operation since 1987, the system provides market agents and producers with comprehensive and highly functional daily sales data.
While each market is responsible for the daily management of the system, it pays Freshmark Systems a fee for backup and service.
This led Michael Cordes, a journalist at Farmers Weekly to wonder what would happen if a market authority did not pay its fee to Freshmark.
He spoke to the management at Freshmark Systems about the issue and said, "I’ve come to realise that the company is acutely aware of its responsibility towards market agents and producers. Hence, the problem it has of an outstanding debtor’s book of well over R2 million! The problem, though, is that no business can ignore a drain like that on its resources."
"If Freshmark Systems is reluctantly driven to exercise its rights and pull the plug, the consequences will be disastrous. The administration function of market agencies will collapse and they will lose their records of sales, payments and much more. Now imagine the reaction of farmers! I shudder thinking about it all."
source: garmersweekly.co.za
