Elders has been named Australia’s most trusted agribusiness brand.
In Roy Morgan’s inaugural Trusted Agribusiness Brand Awards, Elders took out the Agribusiness Products and Services category for 2023, before also taking out the top gong known as the Best of the Best Award.
Other category winners included Zoetis, Bendigo Bank, Incitec Pivot, Norco, GrainCorp, Meat and Livestock Australia (MLA), and Ridley.
Of the eight winning brands, Elders was found to be the company with the highest net level of trust, that is total trust less total distrust.
To win the awards the brands had an exceptional year by garnering high levels of trust, and exceedingly low, or negligible, levels of distrust. More than 1000 farmers were surveyed, and 50 brands measured.
Roy Morgan reported that Elder's success could be attributed to five factors: strong customer relationships, good customer service, experienced and knowledgeable staff, long-standing presence, and reliable products and services.
“While its historic roots are in agriculture, today Elders’ diverse business operations cover rural services, real estate, insurance and much more,” Roy Morgan Chief Executive Officer Michele Levine said.
“For 185 years Elders has been embedded in the fabric of Australian agriculture and played a key role in rural and regional communities by employing local people and servicing local farming families.”
Roy Mogan’s 2023 Trusted Agribusiness Brand Awards
| Category | Winner |
| Animal Health | Zoetis |
| Agribusiness Banks | Bendigo Bank |
| Chemicals and Fertilisers | Incitec Pivot |
| Farmers Co-op | Norco |
| Grain Company | GrainCorp |
| Industry Group | MLA (Meat & Livestock Australia) |
| Stock Feed | Ridley |
| Agribusiness Products and Services | Elders |
While winning the Best of the Best Award, Elders is also the Most Trusted Agribusiness Products and Services brand.
Up against 15 other key brands, Nutrien Ag Solution came in second and CRT third.
AuctionsPlus, the publisher of this article, is jointly owned by Elders and Nutrien Ag Solutions.
Finalists for the Animal Health category were Ag n Vet, Pastoral Ag and Zoetis, with Zoetis winning the award.
Of the seven agribusiness banks measured, Bendigo Bank, CBA and NAB were shortlisted, with Bendigo Bank coming out on top.
In the hotly contested Chemical and Fertiliser category, the finalists Bayer, Incitec Pivot, and Nufarm performed strongest among the 18 contending brands.
In a close finish, leading fertiliser manufacturer and distributor on the east coast of Australia, Incitec Pivot was crowned the Most Trusted Chemical and Fertiliser brand.
The Most Trusted Farmers Co-op is Norco, beating CBH Group and Fonterra.
Graincorp was named the Most Trusted Grain Company in Australia, coming out on top of AWB and CBH Group.
MLA won the title of Australia's Most Trusted Industry Group, outperforming runner-up, Dairy Australia.
The Most Trusted Stock Feed Brand in Australia is Ridley, beating finalists Coprice and Laucke Mills.
“When customers trust a brand, they continue buying its products or services, they recommend it to others and remain loyal to the brand. So trust is the underpinning foundation of brand reputation,” Ms Levine said.
“This is especially important in the farming and agribusiness industries where building and maintaining trust is a key pathway to developing business and personal relationships within this competitive sector.
“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.
“Distrust kills audience engagement, is the tipping point for reputational damage and directly impacts commercial and economic outcomes. Distrust is the bellwether for an unsustainable future.”
Roy Morgan is set to expand its exploration of the agriculture industry by interviewing Australian farmers for the first time about agtech and media later this month.
Meanwhile, in the general awards Bunnings has again been crowned the most trusted brand in the 12 months to December 2023, dethroning Woolworths and breaking the supermarket’s three-and-a-half-year stronghold. Coles has fallen from third to fifth place.