What does a commodity buyer do?

A commodity buyer plays a crucial role in the procurement process, focusing on acquiring raw materials or goods that are essential for production or resale. Their responsibilities include researching market trends, negotiating prices, and establishing relationships with suppliers to ensure a steady supply of commodities. To elaborate, what specific responsibilities does a commodity buyer have? How do they conduct market research and analysis? What strategies do they employ for negotiating prices? Additionally, how do they build and maintain relationships with suppliers? In summary, a commodity buyer is responsible for sourcing essential materials for businesses. Their role involves a variety of tasks, including conducting thorough market research to understand trends and pricing. They also negotiate with suppliers to secure favorable terms and work to foster strong relationships with these suppliers to ensure a reliable supply chain.