Independent commodity intelligence platform expands with the addition of sugar market data
The company plans to become a force in the sugar market and will include data on white and raw sugar, anhydrous ethanol, hydrous ethanol and various futures contracts. Image: Vesper
Vesper, an independent commodity intelligence platform for buyers, sellers, and traders, has added sugar as a new commodity class on the platform.
Vesper has become a go-to commodity intelligence platform for the dairy and vegetable oil markets with its AI-driven accurate price forecasts and pricing benchmark Vesper Price Index.
Vesper works with some of the most prominent dairy and vegetable oil industry players, such as Mondelez, Cargill, Nestlé and Unilever. The company plans to become an equal force in the sugar market and will include data on white and raw sugar, anhydrous ethanol, hydrous ethanol and various futures contracts.
Adopting an intuitive platform is not a matter of if but when. The sugar market is 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.
According to Fortune, the sugar market is predicted to surge from $38.58 billion in 2022 to $46.56 billion in 2029, with the demand for independent data and market intelligence continuing to soar. 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.” The experience Vesper has gained in the dairy and vegetable oil markets, and its extensive network of data providers allows the company to offer its expertise to the sugar industry. “We are a platform for users, by users. The help of our large user base helps us expand into new markets more quickly”, said Alexander Sterk, founder and CEO of Vesper.
“By adding sugar to our platform, we provide our clients with relevant, exhaustive, and complementary data that facilitate their day-to-day operations.”
The Retail and Food & Drink manufacturing sectors have voiced their enthusiasm about Vesper entering the sugar market.
As Conrad Fessler, VP purchasing and managing director at Haribo Group puts it: “We have been waiting for a high-tech intelligence platform like Vesper for a long time. Their market intelligence and forecast abilities are much needed and help us make better-informed decisions.