Commodity traders earned $100 billion in 2023 – Kommersant
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Oliver Wyman Consulting Company countedthat at the end of 2023, the total profit of companies involved in commodity trading reached $100 billion. This is the second largest result after the record year of 2022, when the total profit was about $150 billion. Experts note that 2023 was a year of rebalancing after turbulent events 2022 with disruptions in supply chains, high market instability and jumps in raw material prices.
Oliver Wyman also notes that solid profits in recent years have allowed commodity traders to accumulate a significant amount of free cash, according to various estimates, from $70 billion to $120 billion. Interviewees Bloomberg experts believe that the company will use the accumulated funds to modernize its operations, invest in new projects and create new storage facilities for raw materials. “They have a good opportunity to use these funds. But one cannot help but note a certain degree of nervousness in the market – after all, increased attention will be drawn to how companies will use these funds,” Oliver Wyman partner Adam Perkins said in an interview with the agency.
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