Shipment courier

ECGC imports largest grain shipment in company history to SVG

This week, the East Caribbean Group of Companies (ECGC) imported the largest shipment of grain in the company’s history.

According to a press release from the company, which is headquartered in Campden Park, this is all part of their continued transformation and pursuit of factory excellence and business agility, which is part of the efforts to ‘ECGC to ensure supply reliability and price stability in their markets.

A supply of wheat, soybeans and maize was carried by the 13,000 metric ton (MT) vessel MV SIDER TYRONA, which was moored at the ECGC facility in Campden Park. This delivery represents a 34% increase over the company’s previous delivery, which took place in June this year.

J. Robert Cato, President and Chief Executive Officer (CEO) of ECGC, said, “We are committed to being the most trusted supplier to the OECS for the benefit of our business and our customers. In terms of our planning and implementation of our grain supply strategy to improve supply assurance, this increase in the size of grain shipments reflects a change.

“We invest with a higher level of market intelligence, strong trading recommendations based on enhanced analytics, and a laser-like focus on commodity markets.”

According to the ECGC, it uses grain futures hedging, under which it buys grain in advance to ensure that it would be hedged at the most advantageous grain prices for its production needs. Due to pre-fixed prices, this gives the company some protection in case the market rises and costs adjust.

For the OECS (Organization of Eastern Caribbean States), Cato said: “To be the most reliable supplier of flour, animal feed and rice, we continue to work to achieve two things: the reliability of the supply chain and storage capacity. So we are simultaneously investing in more grain storage capacity in our factories. ECGC CEO added. More storage space allows us to accept vessels larger, and since larger packages lead to lower freight costs, consumers will end up paying less.

The largest meal supplier in the OECS sub-region will be able to maintain stable meal and feed prices to its customer with this most recent acquisition, which gives ECGC the assurance to be able to maintain a constant supply and profitability. The value of grain cargo for each tanker arrival could be as high as EC$15 million.