FOOD SERVICES LTD

INTRODUCTION: We must start saying that we are brokers, we are not principals, but we deal directly with producers and large traders. We have *9 years experience in sugar, and must say that the world sugar business has become a very difficult and tricky thing. Dishonest offers, absurd volumes and unreal prices. We frequently see "bargain offers", like "cancelled order, ship on high sea", "incredible but true", and so on, which does not exist at all. Of course, there is a great deal of naivety among potential buyers. Frauds are only successful because buyers allow them to happen. Buyers are attracted by "easy money", and there are no miracles, not any Santa Claus in the sugar business. Buyers think that they will not lose money if the seller does not comply with the LC requirements. They ignore that documents can be falsified, and once shipping documents are correct on their face, banks will have to pay on these documents, irrespective of the conditions of the goods. The secret (if it would be a secret) for buyers to be safe in commodities, is related to the supplier. Low price should be the last reason to safely buy sugar. Suppliers have to be **0% trustworthy.