USSEC Conducts Purchasing and Risk Management Practices Seminar in Mexico
- General News
USSEC recently conducted a seminar on purchasing and risk management practices in Mexico. USSEC Regional Director – Americas Francisco de la Torre and USSEC consultant Gerardo Luna conducted the two day seminar in Mexico City. This event was co-organized with a feed industry association and a trading firm association. Twenty-one representatives from feed manufacturers and poultry and swine producers as well as processors of other agricultural products attended. Speakers included Mr. de la Torre and Mr. Luna, in addition to Ronald Perez, who represented a brokerage firm and is a former senior trader of grains and oilseeds in Central America for two of the largest trading firms.
The seminar focused on walking the audience through the purchasing process and decision making. The session also provided the basics of market information and fundamentals such as defining Incoterms and key items in the purchasing process, discussing international payment and basis trading, and the use of futures and options. The interactive program included examples, short exercises and practices. Mr. Luna also conducted meetings with feed industry associations and individual firms in addition to visiting a major Mexican soybean food processor to discuss a series of ideas that could help offer their customers fixed prices for a certain length of time.