CIC aims to revolutionise commodities trading
By facilitating online business-to-business trades, it can reduce transaction costs for buyers and sellers
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IN the world of commodities trading, Commodities Intelligence Centre (CIC) is a relative minnow. Nevertheless, it hopes to "revolutionise" commodities trading by facilitating online business-to-business (B2B) trades, promising to reduce transaction costs for buyers and sellers of a wide variety of commodities.
Commodity producers are "regularly exploited" in a system that involves many middlemen facilitating trades between producer and end-user, said CIC's chief executive Peter Yu.
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