Case Study: North American Produce Buyers reduces FX risk with OFX Forward Contracts

North American Produce Buyers locks FX rates for up to 12 months with OFX

North American Produce Buyers, a Canadian produce wholesaler, faced significant foreign exchange risk due to the volatile nature of its international payments to fruit suppliers. Previously relying on their bank for day-of rates, they lacked a tactical FX strategy, leaving their costs and profits vulnerable to market fluctuations. They engaged OFX to develop a more proactive approach to managing their currency exposure.

OFX implemented a tailored hedging strategy, primarily utilizing Forward Contracts. This solution allowed North American Produce Buyers to lock in exchange rates for up to 12 months, providing cost certainty and protecting their margins from currency volatility. The long-term partnership with their dedicated OFX specialist, who provided strategic market insights and support, enabled the company to plan its finances accurately and transition from reacting to the market to proactively managing its FX risk.

North American Produce Buyers