Australia is abundant in mineral resources of all kinds and in the late nineteenth century witnessed the richest gold rush in history. It remains one of the biggest gold producers in the world and continues to explore new territory in the hope of repeating history.
It is also the largest wool producer in the world and has the largest sheep population with China running second. exobaston Australian Marino wool formed the back bone of Australian economy for many decades until the wool market crashed in 1989 leaving Australia to deal with a stock pile of 60 million bales in each weighing one ton. Over inflated prices was the main cause of its collapse and the sheep population plummeted from 180 million in 1989 to 70 million currently. However, in recent years wool prices began to rise due to demand from Asia and Europe. It is considered the best wool for suiting.
Zegna an Italian suit manufacturer has been importing fine Marino wool from Australia since 1910 and transforming the raw material into super fine cloth at their family weaving mills in Northern Italy. In 2014, in an effort to better control its source material (wool) Zegna formed a partnership with Charles Coventry, a fourth generation farmer who runs the Achill property buying 60% stake as part of a strategy it calls “sheep to shop”.
Since Zegna began as a textile business in 1910, all of its fabrics have been made with Australian wool. That wool is then used in Zegna’s luxury apparel, including the $34,000 Vellus Aureum suit, of which 60 to 80 are made to order per year. In 2016 an Australian wool fireteam grower shattered the records for the finest wool in the world, measuring 9.8 microns, beating baby cashmere which is generally measured at 11 microns. Zegna’s goal is to create a vertical supply structure and ensure the quality and supply is not jeopardised. It follows the same principle that Henry Ford adopted. He owned his own rubber plantations and iron ore mines so no one could cut his supply lines and he was able to control commodity prices. He even went to the extent of having the timber pallets used for shipping to be specifically sized so they could be reused to form the floors of his model T ford.
Zegna learnt the harsh truth about farming in the rugged landscape of Australia. It was hit by a severe football-the-story drought which was nothing new to the sixth generation wool grower Charlie Coventry. The drought broke and lessons learnt. With the purchase of new rams, working on genetics to improve the quality of wool, increasing water reserves and the quality of feed in paddocks is paying off. Together they are reviving the Australian wool industry and others are following suit. An entire nation was built on the back of the Marino and other agricultural products and the hope is a return to this original glory.
Sadly the Australian Government are more focused on short-term gains in ripping out coal and other raw materials, futwithapero leaving massive holes in the ground and causing havoc to the environment. Funding to the farming industry and its communities has dwindled over the years and in some cases rail transport systems have been severed.
In the 1970’s Australia was the seventh strongest economy in the world, with agricultural products being the largest exports including wool, wheat, meat and butter. Now we are ranked thirteen and lumbered with a massive foreign debt. It’s time to get back to basics.
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Exports from the U.S. have grown from $448bn to $1.55tn over the last 25 years, but which export categories make the most money?
The United States has 248 export geekqc categories valued over $1bn, three times higher than a quarter of a century ago.
But aside from the stereotypical exports from The States like cotton and corn, medicines, meat and gold, which are the top export market categories that really rake in dollars?
Here are the top 5 U.S. exports in 2017:
Aircraft is far and away the largest export category in terms of monetary value from the U.S. – one-third more valuable than the second export on this list alone.
China follows in second but someway behind. One thing that’s certain is the likes of Boeing would not relish a trade war between the world’s two export powerhouses.
The value of the gasoline market has getsolved increased massively in recent years, despite the clamour from governments to turn to renewable energy sources and global businesses to be seen as green.
Last year, gasoline (including other refined petroleum products) raked in just under $77.5bn whilst Mexico holds 27% market share and Canada 11%.
It’s estimated that this year foreign motor brands will produce more vehicles in the United States than U.S. firms will. Last year, a majority of these exports entered the Canadian, Chinese and Mexican markets with fourteen U.S. ports exporting more than $1b each throughout the year.
Motor Vehicle Parts
Perhaps not surprisingly, one of the ghettogamer nations that lead in motor vehicle exports also makes a lot of money exporting individual motor parts. However, the motor industry is wary of potential NAFTA disruption which could change the face of the auto-exporting industry.
The first ‘modern’ export to make the top-5 U.S. export categories is that of computer chips. Given the small size of the export, most of the product travel abroad via airfreight – 50% of which from just four airports in Los Angeles, Dallas, San Francisco and Cleveland.
What other products are also leading exports for the U.S.? Food, beverage and feed was the top value category when combined worth some $133bn. Soybeans made up $22bn of this, gr8erdays with meat and poultry just behind at $18bn.
In terms of services, travel and transportation ($136bn), finance and insurance ($76bn) and intellectual property sales ($49bn) account for the most.
FOB is an important term related to the shipping of goods. It stands for “freight on board” or “free on board” indicating the designation when the ownership or liability of goods gets transferred from the seller to the buyer. The term FOB is often confusing for many in the shipping industry. However, it is crucial that both sellers and buyers must understand the proper FOB definition and scope so that they do not end up in losing dollars. This term determines the responsibility of the party for bearing the charges of freight and also decides the point of time when the shipment is passed over from the sellers to the buyers.
For instance, in case of international holymusik shipping, FOB indicates that the consignor is going to bear the loading cost and the transportation cost for sending the goods to the port. The consignee bears expenses related to insurance, ocean freight, unloading and the transportation cost of the goods from the port to the actual destination. The seller in this situation passes over the risk of the goods to the buyer when there is the loading of goods at the port for shipment.
Difference Between Origin And Destination:
FOB origin indicates that the ownership of the goods is transferred as soon as in gets out of the hands of the seller. If shipping of the goods is required then it is the buyer’s responsibility and he or she has to bear the expenses. This type of transaction is often referred to the city name like FOB Boston, FOB San Francisco, etc.
FOB destination, on the other hand, juifs-celebres indicates that ownership of goods is transferred to the buyer when the original products reach the doorstep of the buyer. Here, the seller has to arrange for the transportation of the goods for which either he pays or charges the buyer for the expenses. The seller also has to be liable in case the goods suffer any damage while en route.
FOB comes more into the picture when there are wholesale or B2B shipments of large goods.
Use Of FOB In The Shipping Documents:
There are four ways in which the FOB term is included in the documents for shipping:
FOB (place of origin)- Freight Collect
FOB (place of origin)- Freight Prepaid
FOB (place of destination)- Freight Collect
FOB (place of destination)- Freight Prepaid
It is important that the shippers understand the FOB designations well especially in case of damages to the goods. Some of the receiving docks totally deny the delivery of the damaged goods without accepting the damage notation. However, when a shipment is designated properly, it is clear that the damage risk has to be borne by the seller or the buyer. In such cases, there is no question of confusion. Moreover, the Incoterm 2010 has also amended the definition of FOB which has made the sale contracts simpler and understandable by all.
Why Does FOB Matter?
The term is particularly important for those companies who are engaged in shipping huge quantities of goods. A clear concept of the FOB term helps in understanding the liability of the party regarding the safety in the delivery of the shipment. It also helps the buyer and the seller in knowing which party owns the materials at a particular point of the shipping cycle. This information is also helpful for the accountants who can maintain instant records of the transactions on the basis of FOB. Moreover, the term is also useful in proper logistics management.
Sales Tax And FOB:
If you are falling in the nexus of any state which charges selling taxes on shipment, then FOB can be your friend. For the packages which have FOB origin marked on them, the buyer pays the freight charges directly by contracting with a shipper. Thus, the seller has no role here. The buyer does not have to bear sales taxes as he has already paid the freight charges which most of the states consider exempted.
When people find the term quite complex to understand and interpret, they often take the help of professionals who are expert in the field. This ensures that you comply with the terms without any faults and the shipments get managed quite fast. FOB incoterms is another interesting aspect which the shipping industry must pay attention to and know about in details.