LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global Wheat market and is poised to experience spend growth of more than USD 12 billion between 2019-2024 at a CAGR of over 1% Request free sample pages.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Global Wheat Market Procurement Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
Insights into the market price trends
- Owing to the energy-intensive nature of wheat processing and packaging, a rise in energy prices in various countries will increase the OPEX of suppliers. This is expected to increase wheat procurement price.
- Unfavorable weather conditions result in uncertainty in crop yield. To avoid such uncertainties, what suppliers are adopting improved wheat varieties that are tolerant or resistant to extreme weather conditions, pests, and diseases. However, this is driving their production costs which is impacting the overall wheat market price.
Pricing Models that Buyers must Implement while Entering into a Contract with Suppliers
Spot pricing and volume-based pricing are the most widely adopted pricing models in the global wheat market.
Spot Pricing - Buyers can optimize their time of purchase based on product price fluctuations in the market. This will help buyers improve their cost-saving opportunities by procuring products during periods of low prices.
Volume-based Pricing - Buyers can gain higher price negotiation opportunities with an increase in their procurement volumes.
Insights into strategies that will help buyers optimize their procurement spend
- The structured monitoring of the category market dynamics helps buyers formulate strategies for the negotiation of category prices and achieve significant cost savings during wheat procurement.
- Buyers are advised to engage with wheat suppliers who have warehouses located in the vicinity of their operations. This helps buyers reduce the overall logistics cost. Buyers can also consider pooled procurement of wheat during small purchases as it helps reduce the overall shipping costs.
Some of the top Global wheat suppliers enlisted in this report
This Global wheat market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- Archer Daniels Midland Co.
- Cargill Inc.
- Louis Dreyfus Co. BV
- Bunge Ltd.
- Olam International Ltd.
- Wilmar International Ltd.
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About SpendEdge:
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