FGX Business Model
The FGX business model aims to facilitate transactions between the producer and buyer of fresh produce, through
the use of a service provider. The main difference between the FGX business model and that of a typical fresh
produce marketing model is that the fresh produce is transported directly from the producer to the buyer, which eliminates additional handling cost at a physical market.
The flow of funds though the FGX business model is however similar to that of a typical fresh produce marketing model, where the money flows from the buyer, to a single joint trust account which is held by both FGX and the service provider, before being paid over to the producer of the fresh produce.
History of FGX
FGX was initiated by a group of producers and market agents in June 2010 to evaluate the feasibility of an electronic trading platform for fresh produce which utilises the agency model. The project was funded by these partners and additional producers and producer organisations have joined as shareholders since its inception. Find the list of shareholders under FGX Partners.