Bayer ups barter as payment by 300% in Brazil
Bayer CropScience quadrupled its use of barter in the first half of the year as a form of payment for agricultural inputs in Brazil, national media report. The company cites tightening supply of credit in the country. The board member of head of global commercial operations, Marc Reichardt, notes the “very large” growth in the use of the payment system. “There is no equal to this in the world, but we are not happy with this. We would prefer not to deal with the cost of the crop.” Bayer reportedly realised 40% of its sales through barter with distributors last year, business newspaper Valor Economico reports. The company has not released estimates for this year.