Mintec, the leading commodities price analytics company, and IOSCO accredited food PRA, has launched a forecasting and hedging recommendation service for procurement, finance and risk management teams. The forecast solution is fully integrated into the multi-award winning Mintec Analytics platform following the acquisition of Kairos Commodities announced in August. The Mintec Commodity Price Forecast Service enables businesses to transform their approach to cost control and risk management by delivering accurate price forecasts and timely buying recommendations.
- Growing coverage of 60 individual commodity forecasts across soft commodities, grains, vegetable oils, dairy, meat, metals, packaging, energy, freight and currencies
- Macroeconomic forecast of global GDP and the ‘Academy', a library of exclusive tutorials on forecasting analysis techniques and weekly update webinars.
- Fully integrated into Mintec Analytics with historical price database, market analysis, alerts and should-cost modelling covering over 650 commodities
- Available through Mintec Analytics SaaS platform, API and Excel Add-in
The short- and long-term price forecasts – up to 3 years ahead - enables organisations across the value chain to obtain a comprehensive view of key commodity markets and their future price evolution, providing market professionals with critical intelligence to support their procurement, budgeting and risk management strategies. The unique service is built on a sophisticated and proven forecasting methodology, using a proprietary combination of fundamental, macroeconomic and technical analysis, with the forecasts produced by a team of leading commodity analysts.
"We are delighted to be able to extend the capabilities of Mintec Analytics with integrated price forecasts and hedging recommendations. There is not another system like this on the market " said Spencer Wicks, CEO of Mintec.
In a recent survey, most CPOs surveyed said price forecasts were one of the most important product features they considered when choosing digital procurement platforms.
"Our customers often tell us that understanding future price trends are critical to their profitability, and with the launch of this service, they have everything they need in one place. Mintec Analytics now offers the most advanced 'one-stop shop' for procurement and risk managers globally.“ Spencer continued.
In the global food, beverage and manufacturing industries, managing price risk is essential, especially during periods of significant volatility and rapid inflation. However, many companies lack the necessary resource or expertise to forecast prices and identify the best time to hedge through the timing of supply contracts or the use of financial derivatives. By extending Mintec Analytics to include integrated price forecasts and hedging recommendations, companies can now get the clearest, most actionable insight to inform their future buying decisions.
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