Elders tops agriculture's most trusted business rankings

According to survey work by the consumer research group, Roy Morgan, the rural selling agency, supplies and advisory network ranked as best of the best among the eight companies rated highest from a list of 50 rural business contenders.

The brands were measured in a study involving surveys of more than 1000 Australian farmers undertaken late last year.

The independent Roy Morgan group regularly checks the pulse on perceptions of business trust and community feedback on other social and political trends.

Its agribusiness survey is conducted annually.

Elders ranked first in the agribusiness products and services category - for the fourth time - ahead of big rival Nutrien Ag Solutions and Nutrien's CRT farm supplies division.

The category had 15 contenders.

Other category winners were Zoetis in the animal health field; Bendigo Bank (agribusiness banking); Incitec Pivot (chemicals and fertilisers); Meat and Livestock Australia (industry group); GrainCorp (grain companies) Ridley (stockfeed companies) and Norco (farmer co-operatives).

Roy Morgan described the top eight brands as having had an exceptional year for garnering high levels of trust, and, importantly, exceedingly low, or negligible, levels of distrust.

Elders scored highest after its total trust levels were calculated and distrust levels were subtracted.

The 185-year-old company's brand success was attributed to strong customer relationships, good customer service, experienced and knowledgeable staff, long-standing presence, and reliable products and services.

However, the survey was undertaken prior to recent revelations about Elders' live export trading activities a decade ago which allegedly involved employees forging export certificates for thousands of sheep and cattle sales from Australia and New Zealand.

The big agribusiness sold its live export shipping business in 2016.

Roy Morgan chief executive officer, Michele Levine, provided some context to Elders' success in the trust survey noting while its historic roots were in livestock trading and farm product supplies, the company had diverse business operations and a broad services platform in real estate, insurance, and more.

"For 185 years Elders has been embedded in the fabric of Australian agriculture and played a key role in rural and regional communities, employing local people and servicing local families," she said.

Farmers interviewed in the study had offered supporting comments such as; "comprehensive insurance and banking services underpinned by local support, and "dealings I have had with Elders were completed efficiently and in a straightforward manner".

Farmers participating in the survey came from beef, cropping, sheep and wool, horticulture and dairy backgrounds with their farm enterprises ranging up to 25,000 hectares with annual revenues to more than $5 million.

Of the seven agribusiness banks measured, Bendigo Bank, Commonwealth Bank of Australia and National Australia Bank were shortlisted.

Farmers appreciated Bendigo's community focus noting "they're prepared to start branches where all the large banks close branches".

Bendigo Bank was also recognised for returning profits back into the community, via its Community Bank division.

Aside from its agribusiness win, Bendigo has also retained its title as Australia's most trusted bank in a separate Roy Morgan survey.

Managing director, Marnie Baker said the acknowledgement underscored Bendigo's commitment to customer satisfaction, quality products and innovative digital offerings.

She said Bendigo Bank was consistently recognised as Australia's most trusted bank "because we continue to put our 2.6 million customers at the centre of everything we do, prioritising integrity, reliability, and customer-centricity".

Other finalists for the animal health category, won by medicines and vaccine giant, Zoetis, were Ag'n'Vet and Pastoral Ag, while the hotly contested chemical and fertiliser category included farm chemical producers Bayer and Nufarm.

The east coast fertiliser heavyweight, Incitec Pivot was first ahead of the 17 other input contenders attracting farmer comments such as, "local reps are excellent to deal with, fast service and seem to value customer loyalty".

An impressive achievement in the inaugural most trusted farmer co-op category was the NSW North Coast-based dairy co-operative, Norco, beating agribusiness grain giant CBH Group and NZ-based dairy behemoth, Fonterra.

Indicative comments about the 190-farm member co-op ranged from recognition of its support with "quality nutrition with feed and customer service" to its strong "local" services to farmers and consumers.

Internationally active in over 50 countries, GrainCorp topped the grain category ahead of Cargill-owned AWB and West Australia's CBH Group.

Peak meat industry marketing and research body MLA outperformed runner-up, Dairy Australia, while 70-year-old Ridley ranked ahead of stockfeed rivals CopRice and Laucke Mills in the most trusted stockfeed category.

Ms Levine said Roy Morgan's research showed while key drivers of trust differed across industries and brands, trust was the cornerstone of building a sustainable future for a business.

"It builds human connections with businesses, underpins brand reputation, creates customer loyalty, promotes customer advocacy and drives revenue growth," she said.

"At the other end of the spectrum distrust is one of the most significant, yet least recognised risks to Australian business and society in general - the tipping point for reputational damage and directly impacts."