Amsterdam, December 9th Vesper, the dairy industry’s most trusted and used market intelligence platform, announced today that they are adding vegetable oils as the first of a large new set of commodity classes. Vesper aims to inject AI into the vegetable oil market, with its proven forecasting capabilities and a new Vesper Price Index. All of this, alongside continuing to provide market leading insights and a user friendly, customisable and digestible dashboard suitable for all users.
Commodities are seeing record prices as demand is booming and supply chains face continued disruption. Much like dairy, the market for vegetable oils is extremely fragmented and opaque. With record palm oil prices, great uncertainty in soybean quotes, and bad rapeseed harvests, getting a grasp on the actual market fundamentals is much desired by buyers, traders and sellers.
“Entering into vegetable oils is the next logical step for Vesper—since the day we launched, we have received frequent customer requests to add vegetable oils to our platform”, says Vesper founder Alexander Sterk. “Our recent investment from Slimmer has allowed us to address customer needs quickly by launching these new commodity classes.”
Vegetable oil buyers, traders and sellers have many of the same pain points and struggles as those experienced in the dairy industry, so there is a lot of excitement amongst Vesper’s prospective and existing customers to try it out. As one vegetable oil broker put it: “Vesper provides the ideal platform to stay on top of the day-to-day movements in vegetable oils and fats, as well as must-have in-depth information and interpretation of data for every market player. For us, Vesper is a real value-add for anyone who needs to understand the market.”
Vesper, vespertool.com, is an independent commodity intelligence platform that saves users hours of time looking for information and provides all relevant insights and data in one consolidated and personalised overview. Next to its proprietary Vesper Price Index, the platform offers price and stock calculations, real time futures and the most accurate forecast in the market with 90%+ probability using AI and machine learning.