Fastmarkets expands by acquiring Palm Oil Analytics

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Feb 06, 2023, 02:00 ET

LONDON, Feb. 6, 2023 /PRNewswire/ -- Fastmarkets announces the acquisition of Palm Oil Analytics, a Singapore-based provider of prices, data and news on palm oil and its derivative products. The acquisition expands Fastmarkets' presence in agriculture, building on our recent acquisitions of AgriCensus in 2020 and The Jacobsen in 2021.

The acquisition of Palm Oil Analytics allows Fastmarkets to accelerate plans to support trade and investment decisions across vegetable oil markets, including in biofuels and renewable energy markets. This complements the work of Fastmarkets' existing pricing for the biofuels, biomass and battery raw materials markets.

Fastmarkets is the industry-leading price reporting agency (PRA) serving the metals, mining, forest products, energy transition and agriculture markets. Fastmarkets' growth is fueled by its reputation as the trusted source for pricing, news, analytics and events. It is also driven by advancements in its platform and products as well as in its global operation, which continuously aims to enhance the value delivered to customers. As a part of Fastmarkets, Palm Oil Analytics will have access to world-class price reporting infrastructure that will support plans to accelerate its growth.

"I am excited to welcome the team from Palm Oil Analytics to Fastmarkets," Fastmarkets CEO Raju Daswani said. "Combining Palm Oil Analytics with our existing coverage of renewable energy will enhance our ability to serve our customers with the most comprehensive suite of raw material and feedstock prices for the global biofuels market."

"A combination of Palm Oil Analytics and Fastmarkets will allow our customers to benefit from a comprehensive offering to the agriculture market," Sathia Varqa, CEO of Palm Oil Analytics, said. "We are excited to have access to the world-class price reporting resources that will be provided by being a part of Fastmarkets and how this will enhance our offering to our client base."

ABOUT FASTMARKETS

Fastmarkets is the industry-leading price reporting agency (PRA) and information provider for global commodities, providing price data, news, analytics and events for the agriculture, forest products, metals and mining, and new generation energy markets. Fastmarkets' data is critical for customers seeking to understand and predict dynamic, sometimes opaque markets, enabling trading and risk management. Fastmarkets is a global business with a 130-year history built on trust and deep market knowledge. It has more than 500 employees spread across global locations in the UK, US, China, Singapore, Brazil, Belgium and Finland. Fastmarkets is an Astorg portfolio company.

ABOUT PALM OIL ANALYTICS

Palm Oil Analytics (POA) is an independent online publisher of palm oil market news, prices, data and analytics. POA is run by a team of experts with several years of experience in palm oil trading and research. It is based in Singapore and offers reporting and insight on palm oil and its derivatives products to the global market. The business publishes two market reports every day, covering key reference prices, news and analytical pieces, and hosts comprehensive datasets under its products Palm Price Tracker and Palm Data Tracker.

ABOUT ASTORG

Astorg is a European private equity firm with over €18 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market-leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance, and capital they need to achieve their growth plans. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg.

SOURCE Fastmarkets