Agriculture Payment Trends: 2021 vs 2022
Agricultural Payment Practices: Marginal Improvement from 2021 to 2022 (62.3 to 62.7)
The Comparison
- 2021: A sample of 89 agricultural companies yielded an average payment score of 62.3 out of 100.
- 2022: The average payment score for 76 agricultural companies edged up to 62.7 out of 100.
What This Means
While the sector demonstrated a slight positive movement, the improvement of only 0.4 points is statistically insignificant, suggesting payment behavior remained largely consistent year-on-year. A deep-dive is required to analyse why 13 companies left the data set between 2021 and 2022, and how this may have impacted results. This highlights an ongoing need for suppliers to proactively manage payment terms and monitor debtor days. Access a free late payment calculator to understand the impact of slow payments on your own cash flow.
One-line summary: The average payment performance across a sample of agricultural companies saw a minimal increase from 62.3 (89 companies) in 2021 to 62.7 (76 companies) in 2022.
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