In the fast-paced and dynamic feed industry, obtaining accurate and up-to-date price information is pivotal for making informed decisions timely. That's where Price Benchmarks step in, improving the negotiation process by providing a reliable reference point for feed and food industry professionals.
Price Benchmarks have been created to complement our existing product, Price Trends. With the latter, it is possible to have a global, quick view of global price variation in relative terms (%) to understand the big picture. Today, we’re launching Price Benchmarks for Europe (EXW/FCA prices shown in EUR), covering more than 16 amino acids and vitamins so you also see real current prices. In the future, we plan to bring more regions and products.
In this blog post, we share the details of Price Benchmarks, highlighting how they outperform other alternatives and why Kemiex stands as a unique and reliable source.
Why Price Benchmarks is your reliable price source.
Comparing Price Benchmarks against other information services on the market reveals a clear advantage.
While other information products might depend on a few data points obtained via analog channels, Kemiex emerges as a superior choice. We collect multiple data points, in a scalable and reliable way from the most reputable market participants in the industry. Kemiex already works with best-in-class companies active in global commodity trade and market prices.
The Kemiex Difference: A Unique Reference Point
Kemiex stands as a unique reference point for Price Benchmarks due to its robust methodology and extensive contributor network.
By crowdsourcing prices from multiple, verified companies, Kemiex ensures a digital-first survey process among representative and approved experts, combined with statistical algorithms and real platform data from the Trade Network. All that to offer a comprehensive and accurate snapshot of the market, every week.
Methodology Matters: Real-time Crowdsourced Data
Our methodology sets us apart in the realm of price benchmarking. Unlike traditional approaches such as calling suppliers and customers, which can lack timeliness, Kemiex harnesses the power of crowdsourced prices.
Real-time data collected around the world ensures that Price Benchmarks reflect the most current market conditions in amino acids and vitamins. This agility in data collection empowers industry professionals with the information they need precisely when they need it, enhancing decision-making efficiency.
A Model Empowering Contributors
One of the unique aspects of Kemiex's Price Benchmarks lies in our contributors model.
Contributors, who generously share their pricing data, gain access to exclusive market intelligence powered by our extensive data network. This symbiotic relationship empowers contributors with valuable insights derived from the collective knowledge of the network.
In contrast, contributors to other information services might find themselves not receiving adequate value from their participation.
The Value of Correct and Unbiased Market Prices
In a dynamic market landscape susceptible to manipulation and misinformation, the importance of accurate and unbiased market prices cannot be overstated.
Ensuring that market prices are correct and not misleading is paramount for making sound business decisions. Kemiex's commitment to transparent and reliable Price Benchmarks contributes to a healthier market environment, where industry professionals can navigate with confidence and clarity.
As few customers were invited to try Price Benchmarks before it goes live. Some of their comments are:
We are quite satisfied with the price benchmarking provided by Kemiex, which allows us to have an idea of market price levels, and to compare our performance to the one of the market. It’s a quick and easy way to see how we are performing compared to other companies.
Christian Vincenti, Purchase Manager at Ferrero Mangimi
In conclusion, Price Benchmarks represent a key step leap in Kemiex’s vision for the feed and food industry. By offering timely, accurate, and crowdsourced price data, Kemiex empowers professionals to negotiate with transparency and confidence.