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State-owned traders take on established houses

They procure and market commodities directly, bypassing traditional oil and grain traders

London

WHEN Azerbaijan's Socar Trading SA took over the storied commodity trader Phibro LLC this year, it put a stamp on a new trend: the emergence of giant state enterprises to buy and sell natural resources.

Azerbaijan is not alone: Saudi Arabia, China, Oman, Thailand and Russia

sentifi.com

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