SpendEdge has been monitoring the global corn market and the market is poised to experience spend growth of more than USD 50 billion between 2016-2021 at a CAGR of more than 3% during the forecast period. Request Free Sample Pages.
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Read the 89-page research report with TOC and LOE on “The Global Corn Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The extensive use of corn as feed and residual, DDGs/CGF, fuel ethanol, HFCS, sweeteners, starch, beverage/alcohol, and seeds across various industry segments will be the key growth contributor in the global corn market.
High cultivation and the high demand for yellow corn as animal feed will drive demand growth in the corn market in North America. Despite being home to some of the major corn-producing countries, APAC faces an increased pressure to import corn due to its huge population, export subsidies and tax rebates, and lack of changes in the export policy based on the changes in the country’s corn production levels.
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Insights into market price trends:
- Seasonal volatility caused due to sudden changes in weather such as a hurricane, tsunami, flood, or drought, increases the price volatility of agricultural commodities, including corn.
- As corn is a listed commodity, its price varies daily based on the index. This makes it difficult for buyers to predict future prices of agricultural commodities such as corn. Predicting price for beyond three months is extremely challenging, thus resulting in a lack of information on future corn prices.
What are the strategies to adopt to optimize procurement spend in this market?
Adoption of the spot-market strategy
In this strategy, buyers purchase corn in the predefined quality category in the cash market. The strategy allows immediate possession of commodities by buyers and direct contact with suppliers. It ensures the delivery of this commodity at a negligible lead time and minimizes inventory costs as no storage is needed if the purchase is tightly coordinated with production needs.
Adoption of the forward purchasing mechanisms
This strategy can be used by buyers to secure commodities for future production. The strategy requires buyers to project future quantity requirements. It also allows buyers to reduce price risk by hedging spot-market purchases in future markets.
Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the corn market.
Some of the key topics covered in this report are:
- Corn market spend segmentation by region
- Total cost of ownership analysis in the corn market
- Regional spend opportunity for corn suppliers
- Corn suppliers cost structure
- Corn pricing models analysis
- Corn procurement best practices
- Category management objectives
- Cost saving opportunities in the corn market
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