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What does Cost, Insurance and Freight (CIF) mean on agricultural exchanges / commodity exchanges?

What mean Cost, Insurance and Freight in the agricultural sector?

CIF (Cost, Insurance and Freight) includes price, insurance and freight to the port of destination. For importing countries, CIF is crucial for comparing real procurement costs for wheat, corn or soybeans. Fluctuating freight rates have a direct impact on CIF prices.

Synonyms

  • CIF
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