USSEC Conducts Seminars on Purchasing Process, Meets with Customers in Mexico
- General News
USSEC recently organized two seminars on purchasing power, along with conducting meetings with customers of U.S. soybean meal in Merida and Queretaro, Mexico. Consultant Gerardo Luna worked with a former senior trader and executive to put the conferences and meetings together.
The seminars were attended by an average of 16 industry representatives and provided an integral recap of key items relevant to the purchasing of grains and oilseeds along with an introduction to the maritime freight markets, market indicators and behavior. It also showed participants how to break down a quote, find the highlights of a freight contract, differentiate terms and conditions between Free on Board (FOB) and Cost, Insurance and Freight (CIF), and then evaluate a potential transition from the CIF. Finally, the seminar gave an in-depth view of a purchasing book: its nature, scope and practical recommendations on how to administrate it. Also discussed were the benefits resulting from sound planning and execution of purchasing.
Mr. Luna welcomed participants and briefed attendees on USSEC’s mission and objectives. The program’s content was a continuation of USSEC’s efforts to build up customers’ buying capacities. A number of elements highlighted by speakers supported the marketing of U.S. soy products and grains, specifically targeting the Mexican markets. After each seminar, USSEC visited core customers to provide trade service related to the purchasing book; content varied according to specific customers’ interests. The USSEC team believes that the seminars and meetings will result in improved negotiation capacity and actions to leverage their commercial relationships and purchasing in Mexico.