The global research amongst companies who purchase third-party information found that 86% of respondents rated CRU’s market analysis and forecasting as excellent or good, while 77% rated its price assessments and market reporting as excellent or good. Both results were significantly higher than the next best provider, according to the research carried out by Fusion Insight.
When asked about performance against specific criteria, CRU was the most highly rated provider in terms of transparency of methodology, coverage across the commodities, value for money, interaction with analysts/assessors, and accuracy/reliability of data.
This final category was the most valued criteria when selecting a provider to work with – and 82% of respondents rated the accuracy and reliability of CRU’s data as good or excellent.
CRU’s prices – published in Fertilizer Week – were the most respected and relied upon by both North American and South American respondents.
Of the respondents who used a price provider’s assessments to help inform negotiations, two thirds used CRU’s Fertilizer Week for reference; this compared to less than 45% who used the next most popular provider. When asked to name the best provider of prices for reference, CRU was most often cited – in fact as many respondents named Fertilizer Week as the next five price providers put together.
Further, about a third of price users embed Fertilizer Week prices in contracts, compared to a quarter who used the next most popular price provider. Again, when asked to name the most reliable price to use in contracts, Fertilizer Week was the most popular choice.
When respondents used both CRU’s prices and that of its closest competitor, CRU was the most popular both for use for reference and in contracts.
Nick Edwards, CRU general manager of Analysis, said: “While we believe we are producing market-leading analysis and price assessments, we didn’t want to simply rely on that belief – we wanted to test it. And this independent market research proves that customers all over the world can and do rely on our analysis and prices to support their decisions and their businesses. It shows that our focus on methodology, data rigour and personal support for customers are what counts.”
