Corn is one of the most widely grown crops across the world, especially the US and South America. Apart from its use in food produce, it has versatile application in industrial products, baking, fuel ethanol, and biotech. A recent report published by SpendEdge estimates that due to its use in a wide range of end-user application, the global corn market is expected to grow at a steady CAGR of about 4%. There is an increased use of DNA technology in the corn crops to cater to the increasing demand in the corn market.
It is essential to select the right supplier for corn produce due to variability in factors such as cost, quality, reliability, and flexibility. Here are some supplier selection criteria to consider before finalizing a deal in the corn market:
Buyers should be aware of the quality standards within the corn market to meet minimum requirements. The produce should be from a particular category of the commodity or be of a certain grade to be acceptable for use as a raw material. Corn grade, damaged kernels, dent corn, and waxy corn are some of the factors that determine the quality of the corn.
Sustainable Supply of Staple Food
The production of corn could be hampered by factors such as natural disaster, drought, changes in soil fertility, supply complexity, and other factors. It is essential that the buyer is assured of corn supply as per agreement. In such a case, it is essential to identify suppliers with extensive global logistics network and a wide outreach to local and global markets.
It is essential for the supplier to possess safety certification covering collection, transport, storage, trading, and industrial manufacturing of safe feed in order to conduct global trade in the corn market. For instance, suppliers in Europe have to comply by the European Feed and Food Ingredient Safety Certification that provides safety throughout the food chain.
Read more about supplier selection criteria in the corn market along with supply market landscape, pricing, and procurement insights in SpendEdge’s upcoming procurement report on the corn market.