EU plan for buying key commodities centrally is over-reach, warn tech groups

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Financial Times 11h ago

EU plan for buying key commodities centrally is over-reach, warn tech groups - Financial Times

Quick Summary:

The two trading software producers also found fault with the EU plans to jointly purchase multiple commodities that have little in common.

A commission spokesperson said that “the intention is that we have a contractor that manages this platform”, adding that the executive body needed “specific expertise” and would work “in very close co-ordination with the contractor”.

The criticisms are the starkest yet of EU efforts to aggregate demand for commodities in the hope of pushing prices down and jump-starting nascent or localised markets, in the way the bloc managed successfully for Covid-19 vaccines.