Commodity Price Comparisons

Benefits of comparing commodity prices

Identifying Cost-Efficient Supply Sources
Comparing prices from different regions helps you find the most economical suppliers. This can lead to significant cost savings and better supplier relationships.

Improving Budgeting and Planning
Historical price comparisons help you plan budgets accurately by predicting future costs. This approach minimizes financial surprises and supports better fiscal management.

The Price Comparison widget combines both Vesper prices, public sources and partner prices for a comprehensive comparison. It puts all the pricing data you need on one graph so you can clearly assess price relations on the same graph. Use it to compare multiple products, or countries and sources simultaneously.

1. Compare commodity prices between countries or sources

Use the products filter to find a product that is of interest to you.

Select multiple countries or sources. In the screenshot below we have taken the example of comparing the commodity prices of Crude Palm Oil between Malaysia and Indonesia.

2. Check out commodity price differences between products

Use the products filter to find two products you are interested in comparing and select the same country data source.

In our example, we are comparing the cost of Gouda versus the cost of Mozzarella in Europe, but feel free to explore any other comparison.

Sourcing between two products

Compare two oil products that you can switch out from one anther to optimize ingredient costs. For example, soybean oil and palm oil prices. If soybean oil is cheaper, switch to it to save on production costs. This decision can reduce expenses and improve your product pricing.

Sourcing per geographical region

Compare wheat prices in the US and Russia. If Russian wheat is cheaper, import from there to cut costs. This strategy can enhance your profit margins and offer competitive pricing to customers.

Understanding price relations

Compare the prices of related products like WMP and SMP. Track these prices to identify trends. For example, if WMP prices start to rise and SMP typically follows, you can spot this trend early. This strategy can enhance your profit margins allowing you to time your purchase before prices increase.