Farmers Edge Launches Smart Carbon, Eyes New Opportunities with Data
We’re at a turning point with farm data says Aaron Robinson, Chief Strategy Officer at Farmers Edge. While digital platforms have historically focused on agronomic decisions, he says now there’s a whole new crop of business opportunities for farmers and their trusted advisors to be unlocked with data.
“Carbon is certainly a hot topic in agriculture, and as an industry we have a huge opportunity to become more sustainable and part of the climate solution,” he says. “Carbon is a data-intensive process, so there’s a need to be able to leverage data for those opportunities.”
Robinson, who joined Farmers Edge in August 2020, says he’s excited by the opportunities with carbon and data. The company launched Smart Carbon in May, and he notes the company's approach is to try to make the process simple for farmers.
“Farmers have been very inquisitive as a whole, but there’s a spectrum from who wants to be on the front-end and who sees their participation further into the future,” Robinson says. “We want to prepare every farm so they can participate when they are ready.”
The Smart Carbon program is structured so farmers collect data via Farmers Edge connected field sensors and integrated software. Farmers Edge organizes and submits the data to the carbon marketplaces for any necessary verification and financial payment.
Farmers can be credited for practices such as: reducing tillage, planting cover crops, extending rotations, and replacing synthetic fertilizer with manure. The program has the ability to do up to five years of look-back data and it’s also structured to encourage new practice adoption.
Farmers Edge says it’s not uncommon for a combination of practices to range from totaling 1/3 ton or ¾ ton on an annual basis. And Volunteer carbon prices are between $20 to $40 a ton. The company says it tends to be conservative when having the conversation with farmers and estimates $10/acre payment to farmers.
There’s no minimum acreage requirement to participate in Smart Carbon, however the company does require a certain number of acres for the hardware allocation.
The Smart Carbon program is just one example of how data will unlock new opportunities for farmers, says Robinson.
“We are seeing data and connected farms also being able to use new tool for risk management and financial analysis,” he says. “Also, the predominant conversation is around soil carbon today, but the other component on the fringes is nitrous oxides emissions. Farmers will be able to leverage digital tools according to a true 4R protocol to increase profitability and sustainability.”
As an example, Robinson shares how companies such as ADM and Cargill have expressed an interest in being able to trace all grain from the field and quantify their footprint.
Farmers Edge has an initiative to continue to increase its footprint and technology adoption, and in the past six to eight months that has included an increased focus on its retailer/consultant product, SmartPro.
“Farmers and retailers are on a digital journey, and we recognize trusted advisers can help drive farmer adoption,” Robinson says. “We want to give those agricultural professionals a good toolset so they can help farmers find value in data collection and we can provide an integrated solution to help the adviser and farmer communicate, share data and insights, and drive decisions together.”
