Tag Archives: commodities

Africa, Agriculture, News

Dynamic Partnership in place to Empower Ghanaian Farmers and Enhance Agricultural Traceability

UK-based Phlo Systems and Ghana-based Farmerline, both industry pioneers committed to revolutionising the agricultural landscape, proudly announce a new partnership today (14 December, 2023) that aims to transform the agricultural sector in Ghana and enhance traceability within the supply chain.

Farmerline, established in 2013, has been at the forefront of empowering farmers across Ghana. With operations initially reaching 800 farmers and a vision to revolutionise the entire sector, Farmerline has already left a significant mark. Through its own platform, it has reached 1.7M farmers by deploying its tools and services through 3,000+ strategic partners across 48 countries.

Phlo Systems, a leading provider of international supply chain management solutions, delivering innovative digital solutions for end-to-end physical goods and commodities supply chain operations, joins forces with Farmerline to amplify the impact of its collective efforts.

This partnership will enable the company to extend its reach to more originators and farmers across Africa, LatAm and South Asia, providing essential guidance and support to ensure compliance with EU DR standards and enhancing monitoring, traceability with the use of intelligence tools.

Alloysius Attah, Co-Founder and Group CEO at Farmerline, said, “Our goal has always been to catalyse lasting profits for farmers and bring about a positive impact in the agricultural sector. We began in 2013 with a vision to revolutionise the industry, and today, we’re empowering over 1.7 million farmers globally.

“Our partnership with Phlo Systems is a significant step towards achieving our vision and ensuring full traceability of commodities right back to the farmers.”

Saurabh Goyal, CEO of Phlo Systems, said: “We are thrilled to partner with Farmerline, an organisation that shares our dedication to transforming the agricultural sector. Together, we will leverage our expertise and resources to provide farmers, originators, traders and operators with the necessary tools and knowledge to comply with EU DR standards and achieve sustainable growth. The ability to trace commodities back to the farmers is a crucial step towards ensuring transparency and accountability within the supply chain.”

This partnership signifies a significant milestone in the efforts to empower farmers, enhance agricultural traceability, and ultimately drive sustainable growth and development in the agricultural sector. By combining strengths and expertise, Phlo Systems and Farmerline are set to create a lasting impact on the lives of farmers in Ghana and beyond.

Mergers & Acquisitions, News

Brady Technologies Announces the Sale of its Commodities Business to STG

  • Brady is divesting its commodities operations to STG
  • The divestment will allow both organisations to accelerate growth and focus on innovation in their respective solutions
  • STG’s carveout of Brady Commodities is a strategic platform acquisition executed via the STG Allegro Fund
  • Brady Technologies will remain under the ownership of Hanover Investors and be focused on its suite of energy trading and risk management software solutions

London, Thursday 21st July – Brady Technologies (‘Brady’), a leading global trading, risk and logistics software provider for the energy sector, announces the sale of its commodities business to STG, a leading Menlo Park, California-based private equity firm focused on the software, data, and analytics sectors.

Brady’s commodity trading and risk management (CTRM) products, including development and delivery functions is now a stand-alone entity within the STG portfolio. The Brady Technologies business is now completely focused on energy trading and credit risk markets. The deal allows both companies to aggressively pursue their respective product innovation plans and growth strategies, particularly driven by the green energy transition and increasing ESG requirements.

The sale of the commodities business to STG marks a significant milestone in the transformation of Brady, as the company accelerates its product innovation and expansion plans in energy markets. In the past year alone, Brady has launched its first SaaS short-term power trading solution (PowerDesk) and made two key acquisitions in the energy trading and risk software space (Igloo Trading Solutions and CRisk).

Going forward, the commodities business including CTRM products, intellectual property, employees, and customers, will be under the management of STG, a leading private equity firm focused on the software, data analytics and software-enabled technology services sectors.

“We have been extremely impressed by the wide-ranging breadth of functionality in Brady’s financial and physical CTRM platforms and their market leading position and their prestigious customer base”, said William Chisholm, Managing Partner of STG. “Brady Commodities is a strategic platform acquisition for us and this platform will serve as a cornerstone investment for our Allegro Fund.” Ishan Manaktala, STG Operating Partner added, “Brady Commodities is seen as a leader within metals for CTRM given its leading functionality, including best-in-class workflow, pricing, and hedging capabilities (among others). We are committed to continuing to deliver a high-quality customer service and will be making significant investments in product innovation and international markets.”

Matthew Peacock, Founder and Chairman of Hanover Investors, said, “This is an important milestone in Brady’s history as we focus on our exciting future in energy, short term power and risk. We continue to strengthen our leadership position in this dynamic sector, supporting operators and traders through macro-economic challenges as well as the transition in green energy and short-term power. Hanover is committed to investing in Brady’s innovation plans and products to provide even more capabilities for its customers.”

After today, the commodities business will be under the stewardship of STG, although Brady will provide support in certain capacities in the short-term to ensure a smooth transition for all stakeholders. Throughout the next stage of value creation, the top priority of both businesses remains continuity for its customers, employees, and partners.

Energy

UK reduces its oil imports by over 75 million barrels in five years

The UK has reduced its oil imports by more than a fifth (21%) in five years, a new online tool from Daily FX has revealed.

While the country remains the 12th biggest global importer of oil, including petroleum oils, it has taken great strides towards reducing its reliance on such environmentally-harmful fuels.

Between 2013 and 2018, the UK had the eighth-best rate in Europe for reducing such imports, with its intake dropping by 76.9 million barrels (from 359 million to just over 280 million).

Malta (93%) and the Republic of Moldova (92%) experienced the most significant decreases across the continent.

The data has been visualised on a new interactive tool built by Daily FX, the leading portal for forex trading news, which displays global commodity imports and exports over the last decade.

The tool shows that China has recently overtaken the USA as the world’s biggest importer of oil. The Asian giant imported nearly 3.4 billion barrels in 2018, which was over 240 million more than the USA. China tops the list having increased its oil imports by 64% since 2013 – nearly six times the rate of its rival (11%).

The top 10 global importers of oil (2018) are:

  • China – 3.38 billion barrels
  • USA – 3.14 billion barrels
  • India – 1.65 billion barrels
  • Japan – 1.09 billion barrels
  • The Republic of Korea – 1.09 billion barrels
  • Germany – 622 million barrels
  • Netherlands – 506 million barrels
  • Italy – 460 million barrels
  • France – 397 million barrels
  • Singapore – 376 million barrels

Daily FX’s unique tool allows traders to spot developments in the flow of commodities and the growth of both supply and demand while comparing the changes to critical economic indicators.

One trend highlighted by the tool is the decreasing reliance on oil among African countries. Five of the world’s ten best nations at reducing oil imports are found on the continent, including the top four. Morocco, Kenya, Burundi and Gambia all decreased such imports by over 99%.

John Kicklighter, Chief Currency Strategist at Daily FX, said:

“The world is changing and so is the way that it uses energy. Renewable and environmentally-friendly fuel options are the future, and while the end of crude oil is still far off, there will be considerable changes in the world’s top importers and exporters. Our new tool helps track those changes.

“While some of the larger countries have increased their appetite, it is interesting from an investor’s perspective to see the UK exploring alternative energy sources and reducing its dependence on oil.”

‘Global Commodities’ takes the form of a re-imagined 3D globe where the heights of countries rise and fall to show the import and export levels of a range of commodities over the last decade. The data visualisation allows users to switch views from a single commodity or market and show information relevant to that commodity or market’s performance.

To learn more about Global Commodities and view the tool, visit: https://www.dailyfx.com/research/global-commodities