CTRM for Ags & Softs
Contents Introduction and Scope of Research ....................................................................................................................................... 5
Definitions and Scope ............................................................................................................................................................. 6 Commodity Trading and Risk Management ........................................................................................................................ 7 Commodity Management ................................................................................................................................................... 8 Solutions Matrix .................................................................................................................................................................... 10 CTRM Market Growth and Outlook in Ags & softs ............................................................................................................... 10 CTRM Versus CM ................................................................................................................................................................... 11 It Is All About the Commodity ............................................................................................................................................... 11 Summary ............................................................................................................................................................................... 13 Appendix 1 - Derivatives and Exchange Traded Products .................................................................................................... 14 Appendix 2 - Commodities and Unique Supply Chains - Introduction .................................................................................. 18 Complex Agricultural Commodities ...................................................................................................................................... 19 Cotton ................................................................................................................................................................................... 19 Overview ............................................................................................................................................................................ 19 Cotton Trading ................................................................................................................................................................... 19 The Cotton Supply Chain ................................................................................................................................................... 20 Cotton Quality Attributes per the USDA ........................................................................................................................... 21
Cocoa ..................................................................................................................................................................................... 26 Overview ............................................................................................................................................................................ 27 Cocoa Production .............................................................................................................................................................. 27 Cocoa Trading .................................................................................................................................................................... 28
Sugar ..................................................................................................................................................................................... 30 Overview ............................................................................................................................................................................ 31 Sugar Production ............................................................................................................................................................... 32 Sugar Trading ..................................................................................................................................................................... 33
Coffee .................................................................................................................................................................................... 35 Overview ............................................................................................................................................................................ 35 Coffee Production ............................................................................................................................................................. 35 Coffee Trading ................................................................................................................................................................... 36
Palm Oil ................................................................................................................................................................................. 39
Overview
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