Mintec, the leading independent provider of global pricing data and intelligence for the food industry has announced the launch of its algorithmic commodity price forecasts that cover over 533 commodities for agrifood, industrial materials and energy commodities.
These new price forecasts further expand procurement and investment professionals' capabilities to understand future prices and inform their buying and investment decisions.
Mintec's algorithmic commodity price forecasts are generated using advanced algorithms that leverage vast amounts of market data, analysis, and historical trends. By using statistical techniques to identify patterns and correlations between price movements for similar commodities and different regions, they provide accurate price predictions for multiple specifications and markets. Ultimately, these forecasts provide the granularity that enables Mintec customers to act on expected changes to global commodity prices.
Luana Clapis, Mintec’s Chief Data Officer, said, "The launch of these algorithmic forecasts extends Mintec's credentials as a leading data software business with growing capability in cutting-edge data science".
These algorithmic commodity price forecasts are delivered via Mintec’s best-in-class platform, Mintec Analytics, to complement a set of robust core forecasts, generated by a team of experts in fundamental, technical and macroeconomic analysis. Combined, these forecasts provide procurement and investment professionals with critical information regarding future commodity prices to improve their decision-making, increase cost savings, and mitigate risks for their business in a rapidly changing market.
Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for more than 17,000 food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyze their spending, and confidently negotiate.