LONDON--(BUSINESS WIRE)--Global procurement market intelligence advisory firm, SpendEdge, has announced the release of their ‘Corn Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of corn and acts as an all-inclusive guide for making smart purchasing decisions.
“The global corn market is driven by the adoption of corn in a wide range of end-user applications for their end-products and by-products,” says SpendEdge procurement research analyst A Kowshik. “The increased demand for fuel ethanol and meat (as corn is used as livestock feed) is driving the global demand for corn,” added Kowshik.
Key Report Features
| Supply Market Insights | Negotiation Strategies | |||
| Procurement Best Practices | Category Risk Analysis | |||
| Cost Saving Opportunities | Key Supplier Analysis | |||
| Pricing Models | Supplier Capability Matrix | |||
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Report Insights
- The increased demand for corn can be attributed to its low-cost due to heavy subsidies on corn crop and use of corn for production of ethanol, which is a highly used biofuel. Also, the use of by-products of corn such as animal feedstuff, cereal, snack, bakery, and alcoholic beverages is contributing to the growth of global corn market.
- Purchasing managers must adopt commodity-procurement strategies that outline the actions to be followed in managing the commodity in the long term. The two-primary commodity-procurement strategies are spot-market strategy and forward purchasing mechanisms.
- High shipping costs have had a high impact on transportation logistics on grain (corn) exports from the US, which is the largest corn producer. Therefore, purchasing managers outside the US have to pay double the costs for procuring corn. This cost includes logistics costs and import duties on agricultural commodities (including corn), thereby posing a major challenge to procure corn at reasonable prices.
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Corn Pricing Trends
The market-based pricing is a widely implemented pricing model in the global corn market. In market-based pricing, purchasing managers are charged based on the prices offered by the competitors resulting in similar prices being offered across the industry. Similar price offerings increase competition among suppliers resulting in high bargaining power for the purchasing managers. Furthermore, it also offers the opportunity to capitalize on market fluctuations by optimizing the time of purchase and enables purchasing managers to compare and evaluate the prices across all suppliers.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
