02 Apr '13, 8am

Vitol Group Starts Global Grain Trading From Singapore, Geneva - Bloomberg

Vitol Group, the world’s largest independent oil trader, began trading global grain markets from Singapore and Geneva, with support from staff in Canada and Germany to start next month. The team will be headed by Don Chapman, based in Vancouver , the Geneva-based company said in a statement today. Chapman was previously with Viterra Inc., Canada’s largest grain handler, which he joined from Toepfer International in 2007, it said. Trading houses are expanding as investment banks cut commodity staff amid declining revenues and stricter rules that limit how much money they can risk. Farm commodities such as corn, sugar and palm oil can be used to make biofuels, and Vitol said that Chapman’s team was a so-called natural extension of its business. Vitol will trade grains and other agricultural commodities, it said, with identifying them. “Trading agricultural products builds on...

Full article: http://www.bloomberg.com/news/2013-04-02/vitol-group-star...

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