NETHERLANDS— Vesper an independent commodity intelligence platform for buyers, sellers, and traders has added sugar to its portfolio of commodities, making it the first user-friendly and independent sugar intelligence platform in the market.
Working with some of the most prominent dairy and vegetable oil industry players, such as Mondelez, Cargill, Nestlé and Unilever, Vesper’s AI-driven accurate price forecasts and pricing benchmark Vesper Price Index have made it the go-to commodity intelligence platform in those industries.
As one vegetable oil broker put it: “Vesper provides the ideal platform to stay on top of the day-to-day movements in vegetable oils and fats, as well as must-have in-depth information and interpretation of data for every market player. For us, Vesper is a real value-add for anyone who needs to understand the market.”
Vesper aims to become an equal force in the sugar market, which Fortune Business Insights predicts will surge from US$ 38.58 billion in 2022 to US$ 46.56 billion in 2029, with the demand for independent data and market intelligence continuing to soar.
By adding sugar to our platform, we provide our clients with relevant, exhaustive, and complementary data that facilitate their day-to-day operations
The sugar market is however highly fragmented and opaque, making it challenging to set an accurate price benchmark per region. For buyers, sellers and traders, sourcing price quotes from all over the world and staying up to date on world market trends is time-consuming.
“By adding sugar to our platform, we provide our clients with relevant, exhaustive, and complementary data that facilitate their day-to-day operations,” said Alexander Sterk, Founder and CEO of Vesper.
Vesper’s intuitive platform allows businesses to buy, sell and trade against the best possible price whilst giving back time through easy-to-understand dashboards providing data and in-depth market analysis for the sugar market across the EU, Brazil, Thailand and India.
The platform includes forecasts, an import parity widget and the proprietary Vesper Price Index (VPI). The VPI is a new sugar price benchmark created by buyers, sellers and traders, helping them trade at a fair price.
Richard Polánek, Global Procurement Director at PepsiCo, is excited that Vesper will bring more transparency to the sugar market. “Vesper’s real-time data will further democratise the sugar industry, help buyers better understand the market and mitigate risks.”
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