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Targray has announced the official launch of its international vegetable oils trading desk in Geneva, Switzerland. Part of a broader investment plan to meet growing global demand for sustainable agricultural commodities, the new trading desk will leverage Targray’s efficient supply chain and in-house expertise to unlock value for wholesale suppliers and consumers of edible oils in markets throughout Europe, Asia, Africa and the Americas.
Targray’s vegetable oils business will be led by commodity trader Nick Nalbandian. Prior to joining the company in 2020, Nick worked for over 5 years at multinational food processing corporation ADM. He has extensive experience managing trading operations for a broad range of oilseed and vegetable oil products.
The announcement comes amid a robust upward trend in the prices of agriculture commodities underpinned by an overwhelming surge in managed money presence, with investors aiming to hedge inflation risk as well as a tight global supply outlook for the next marketing season.