Plain-language definitions of 133 terms used in raw material trade: Incoterms, payment, shipping, customs, quality documents, plastics, metals, chemicals, agriculture and energy.
For grain, feed ingredients and fertilisers, analytical values are stated “as is” or on a dry matter (DM) basis. A soybean meal at 12 % moisture with 46 % protein as is, for instance, corresponds to about 52.3 % on dry matter, so offers on different bases cannot be compared directly. Crude protein is nitrogen found by the Kjeldahl or Dumas method multiplied by 6.25. Contracts should state the maximum moisture, minimum protein and the price discount or premium for deviations – for example a 1.5 % discount for each 1 % protein shortfall.
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