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Despite a stable end to 2021, the commodity finance industry remains wary of being embroiled in another fraud scandal. Though price rises and strong liquidity have led to booming business at the top end of the market, smaller traders continue to struggle for access to finance. Could strengthening collateral checks or warehouse inspections help mitigate ...
Banks are retrenching after the coronavirus crisis led to defaults by some trading houses, intermediaries in the global movement of oil, metals and agricultural goods which link producers and end-users, and also exposed a series of frauds.
Fraud is driving banks out of commodity trade finance with financial stress linked to the COVID-19 pandemic exposing how widespread it had become, a conference organised by the International Grains Council was told on Tuesday. Jean-Francois Lambert, founding partner at Lambert Commodities, told the IGC’s annual conference that the situation was more serious than during ...