In today’s edition, Wolfram Kuoni is quoted as President of the Zug Commodity Association (ZCA) in the article “How the Middle East war is shaking up commodity traders” by Notker Blechner.
While the major Swiss trading houses – Vitol, Trafigura, Gunvor and Mercuria – are benefiting from heightened volatility, smaller traders are coming under pressure. Kuoni observes a growing fragmentation of the sector and concludes: “There is no reason to complain.” Margins of 1 to 2% remain solid, and Switzerland is currently even benefiting from traders relocating from Dubai back to the Swiss hub.