Global market commodities

Carotenoids are one of the most abundant groups of pigments found in nature. Every year more than 100 million tonnes of them are being synthesized in the biosphere. Nearly 600 molecular species of carotenoids are currently identified (Del Campo et al., 2007). As powerful antioxidants, vitamin precursors, natural colorants, and odorants they became a serious global market commodity accounting for almost 1 billion dollars of the yearly trade (BCC research, 2007). 

While oil has become a globally traded commodity, with prices subject to overall supply and demand, small changes in overall supply or even concerns about potential threats to supply can significantly affect prices. And while OPEC countries do not set prices, they do have tremendous market power, largely because oil demand is relatively unresponsive to changes in price. Economists define the overall responsiveness of demand to price changes as the "elasticity of demand." An elasticity of —1.0 means that for a 10% increase in price, demand decreases by 10%. 

Hydrogen peroxide is an important commodity oxidant, with applications in a variety of industries, including chemical synthesis, paper and pulp bleaching [13], and wastewater remediation [14]. The total global market for H2O2 has been projected to reach 4 670 000 ta by 2017. Over 95% of all HjOj is produced through... 

In a world where applied science and technology are available to practically anyone for a few rupees or yuan on the dollar, we have to ask ourselves. What will the US engineer have to offer that is not available in the global market for a fraction of the cost If we decide to compete with other countries using the traditional definition of engineering, we will certainly succeed in converting engineers into a commodity. 

The perishable nature of potatoes limits the market of this raw material to the region of production what is produced in Europe is predominantly consumed in Europe. On the other side, cereals are commodities traded globally and therefore subject to the dynamics of a global market. A recent demonstration of these global dynamics was the temporary shortage of cereal on the market caused, among others, by an increased demand for food coming from China and India, bad weather conditions and the use of cereals as feedstock for bioethanol production. 

Unlike for most agricultural crops, there is no global market price for round-wood. This is because the price very much depends on the specie, dimension, and quality of a piece of roundwood and the fact that the majority of roundwood is not traded on commodity exchanges. Wood prices are very diverse and even differ regionally. Hence, there are no global or national prices to report... 

Global market forces affect all aspects of engineering practice and education, which in turn involve research and teaching in the engineering schools and universities. Global market force calculations simplistically break large complex systems into connected series of commodities, which are essentially represented by simple cost units. 

The price of PLA is predicted to equal that of PET by 2010 and therefore in the near future is expected to become a commodity polymer. It is being presently produced by Hycail, Galactic, Cargill (which is planning a production capacity of 0.5 million tonnes/year in 2010), and Toyota. PT Toyota Bio Indonesia was established in April 2001 to grow sweet potatoes for the manufacture of bioplastics. At present the global bioplastics market is just 20,000 tonnes annually, but Toyota calculates that as much as 30 million tonnes of the total annual plastics demand of 150 million tonnes could be replaced by bioplastics. In view of that potential, Toyota aims to increase production to 20 million tonnes with a potential sales value of five trillion Yen [38]. This would correspond to two-thirds of the global market of bioplastics by 2020, equivalent to 25% of Toyota s consolidated sales in 2003. 

The size of the investments needed, combined with production capacities and the maturity of the industry, have pushed conventional geotextiles to evolve into a range of commodity products in which specifications are increasingly standardized owing to national and international certifications. This industry trend towards a selection of commodity products, combined with a reduction in labour involved with the production, as a result of automation and increased volume, has also had an impact on the market price stmctures. Prices are connected to a global market and are mostly influenced by fluctuations in the price of polymers on the international market. In this context, globalization of the industry and international exportation have an ever-growing role in the balance of offer and demand. 

The commodity nature of the product and the easy access to the Hcensed processes enable new producers, particularly in developing countries, to enter the global styrene merchant market with Htde experience in styrene technology. Access to ethylene, which caimot be easily transported by means other than pipelines, is a key factor in considering new styrene faciHties. Timing, or luck, is even more important because the supply and demand of styrene are seldom in balance and the price fluctuates broadly and rapidly as a result. Most of the time, the producers either suffer losses (1981—1985, 1991—1993) or enjoy handsome profits (1987—1990, 1994—mid-1995). Investments in styrene plants are known to have been recovered in less than a year, but prosperity encourages over-investment and lean years may foUow. 

However, pulp and paper are commodities and therefore prices are vulnerable to global competition. Countries such as Brazil, Chile, and Indonesia have built modern, advanced pulp facilities. These countries have faster-growing trees and lower labor costs. Latin American and European countries are also adding papermaking capacity. Because of this increased foreign competition, imports of paper to the U.S. market are expected to increase 3% annually through 2004.10 In order... 

This relatively stable system now faces increasing volatility and complexity due to volatile demand and raw material prices as well as globalization in markets and company networks. Specifically, price-volatile commodity products within the chemical industry require planning volumes together with values across sales to procurement. In this context, the work of Matthias Kannegiesser focuses on two research questions ... 

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