Marina Commodities Inc
Marina Commodities Inc. bases the value of their business on quality products, competitive prices, and exceptional service. Through their original business strategy and ability to overcome industry obstacles, the company continues to grow as a global industry leader.
Pulse crops include beans, peas, chickpeas and lentils. Pulses account for about five per cent of a person’s daily energy intake, and they offer a good source of protein, calcium, iron, and lysine. While global pulse production increased at a low 1.3 per cent between 1998 and 2003, the consumption increased by seven per cent annually.
According to the Food and Agriculture Organization (FAO), Canada is currently the top global exporter of lentils and peas, comprising a 32 per cent share of the international market. In order for any commodity trader to succeed in pulse crop trade, the companies need to work on an international scale, just as Marina Commodities does.
Marina Commodities was established as a subsidiary of Marina Textiles Inc. in 2001 and soon became and independent corporation in 2002. The parent company, Marina Textiles, functioned as a successful Canadian importer, distributor, wholesaler, and exporter of fabric, towels, home textiles and institutional linen.
Since its inception, Marina Commodities Inc., expanded into the international import and export pulse industry as they envisioned the growth in pulse demand in importing countries. Recently in 2012, Marina Food Products was established to cater to the growing need for North American Ethnic market for pulses and related items.
“International business is in our blood,” explains CEO Farhan Adam. “We’re a family business. We’ve been in international business for the past three generations; it’s how we’ve been brought up. Our father has taught us this business and under his guidance and support we continue to grow and learn every day.”
Despite a short period of inactivity in 2005, Marina Commodities continues to experience substantial annual growth. Marina Commodities is now one of Canada’s leading international pulse crop exporters and trading companies. The company currently trades with over twenty countries in Europe, Asia, and the Middle East. The business currently focuses on the import and export of peas, lentils, and chick peas. Adam attributes Marina Commodities’ success to its commitment to building strong relationships with all of the business associates around the globe.
A Unique Business Strategy
The business’s success, according to Adam, lies in the company’s strong networking abilities. Although the company’s primary office is located in Toronto, Marina Commodities receives and ships product worldwide on a regular basis. “Our core business is to buy from Canada and ship to the world, we also buy from countries like Argentina and ship to Egypt, buy from Australia and ship to India and many such origins – very few companies in the world can do that,” he notes. “We are a one stop shop for an importer – we can provide beans from Ethiopia and lentils from Canada at the same time. Buyers like that. This is our specialty and our strength.”
Marina Commodities vast network provides the company with a key market advantage as the information channel is first hand. Adam explains, “We feel the pulse of the market sitting in Canada and that is very important as a trader.”
“We have such great friends working with us closely; it’s all about personal relationships. You have to be sincere. You need to be sincere in business – that’s how you maintain strong relations.”
One of our key strength to our successful operations is the team of experts sitting in our Toronto office working hard on getting the right product, the right documents (as per importing country requirements) on time and managing their contracts and understanding the need of our buyers on a day to day basis.
In 2013, Marina Commodities moved over 100,000 metric tonnes of pulse crops worldwide in containers. The year 2012-2013 crop in Canada has resulted in abundant yields, which has created an obstacle for product shipping – with too few railcars and containers to carry the large amounts of product; agricultural traders could not meet the buyer demands of shipping on time.
Despite the company’s best efforts, Marina Commodities continues to struggle to provide fast, reliable shipping, and due to the large crop yield, shortage of containers and severe Canadian winter, the orders currently are almost two months behind.
The Canadian logistics gap has created extraordinary demands for our specialty crops, as the importing country didn’t receive the needed supply on time. This has resulted in temporary shortage in these countries resulting in a price hike and increased demand. Until our new crop which will come around August 2014, we will continue to struggle with these issues as we will be short shipping on month to month basis which will continue to leave a steady demand around the globe.
Marina Commodities’ success stems from an ingrained aptitude for international trade. In recent years, the company has gained global traction within the global pulse crop market. Farhan Adam plans for the company to grow at a steady pace every year.
“We are expanding our markets,” he says. “We’re entering different countries and establishing new relations. We target one to two countries every year and carefully study their buying habits and then go on full force marketing to key importers as well as maintain and expand business with our current customers around the globe by enhancing our relationships with them.”
Marina Commodities business strategy and track record reveal their international growth potential. As they continue to penetrate into new countries, they can expand both their resources and market base. Through continued focus on building positive business relationships, quality products, and exceptional service, Marina Commodities presents itself as a competitive player within the international pulse crop market.