Posséder le premier maillon de la chaîne
When the same line runs short season after season, owning its source costs less than chasing it.
A trader who only buys stays at the mercy of what is available. That is tolerable in the abundant lines and expensive in the ones whose market tightens every few years.
Investing in land and livestock was less an expansion into a new activity than an insurance on one end of the book: production whose conditions we know, a quality standard we set ourselves, and first-hand knowledge of what it means to grow the crop rather than buy it.
Actualités
Articles liés
Actualités du groupe
Deux livres, un seul bureau
What does a wheat cargo have in common with a polymer cargo? Nothing — except the part that actually matters.
Opérations
Pourquoi nous contrôlons au chargement, et non à l’arrivée
Un litige qualité après l’arrivée coûte cher aux deux parties. Le contrôle indépendant au chargement est l’assurance la moins chère du négoce.
Marchés
Une note sur le fret
The price of the goods is half the story. Freight decides the other half, and it is the half that gets forgotten.