Mintec Team
Recent Posts
5 reasons why the commodity price boom is just getting started
Commodity prices have been on the rise in recent years, sparking concerns that inflation may be too high and hurting consumer spending. However, some economic experts believe the commodity price boom has just begun and will last several more years, with some predicting it will push commodity prices to all-time highs by 2026. Others are more cautious predicting that in the short term commodity prices may fall and experience continued volatility.
Topics: Commodities, Procurement
Could 2023 be the most challenging year ever for procurement?
The procurement landscape, particularly that of the food and beverage industry, has faced a raft of difficulties in recent years. Various challenging factors including the war in Ukraine, volatility of global commodity prices and extreme weather, have swept the globe, catalysing unprecedented obstacles for many industries.
Topics: Commodities, Procurement
How accurate are Mintec Price Forecasts, and how much can I save?
These are the most common questions asked regarding Mintec's Commodity Prices and Price Forecasts.
Topics: Commodities, Procurement
What are the main challenges for Chief Procurement Officers in 2023?
With a war in Ukraine, price inflation driven by energy and raw material price increases, Chief Procurement Officers (CPO) worldwide worked hard to maintain business operations, mitigate supplier challenges and navigate continued disruption and increased costs. As we look towards 2023, businesses continue to feel the effects and uncertainty of events, it is worth asking what challenges lie ahead for CPOs.
Topics: Procurement
Future Proofing Procurement: Combating Commodity Price Inflation
It’s no secret that inflation has become one of the greatest economic worries of 2022, for both businesses and people alike. According to the Fed, European Commission and World Bank, this threat is not going anywhere soon and institutions such as the Bank of England have been put under immense pressure as companies plan for extended periods of inflation. Both the aftermath from the recent COVID pandemic alongside the current geopolitical instability as a result of the Russia-Ukraine war have contributed significantly to this issue. Additionally, the presence of large grain reserves being held hostage to the world by Russia have also put pressure on market prices of other goods.