The Grain and Feed Trade Association (or GAFTA) is a London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

 based trade organisation

Industry trade group

A trade association, also known as an industry trade group, business association or sector association, is an organization founded and funded by businesses that operate in a specific industry...

 consisting of professionals, operators, traders and transporters in the international grain trade.

History

GAFTA can trace its history back to 1878, when the London Corn Trade Association (LCTA) started operations. In 1906, a group of traders spun off the LCTA and formed the London Cattle Food Association (LCFA). In 1971 LCTA and LCFA merged to form GAFTA.

Structure

The main office is situated between Trafalgar Square

Trafalgar Square

Trafalgar Square is a public space and tourist attraction in central London, England, United Kingdom. At its centre is Nelson's Column, which is guarded by four lion statues at its base. There are a number of statues and sculptures in the square, with one plinth displaying changing pieces of...

 and Charing Cross railway station

Charing Cross railway station

Charing Cross railway station, also known as London Charing Cross, is a central London railway terminus in the City of Westminster, England. It is one of 18 stations managed by Network Rail, and trains serving it are operated by Southeastern...

.

GAFTA has offices in London (Headquarters), Beijing

Beijing

Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...

, Geneva

Geneva

Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...

 and Kiev

Kiev

Kiev or Kyiv is the capital and the largest city of Ukraine, located in the north central part of the country on the Dnieper River. The population as of the 2001 census was 2,611,300. However, higher numbers have been cited in the press....

.

Goals and main objectives

GAFTA sets out to promote international trade and protect the interests of its members. Activities include definition and regulation of

• Quality standards, conditions of trade, guaranties
• Shipping documents and delivery conditions
• Terms of payment
• Dealing with problems and extraordinary circumstances
• Insurance
• Non-Fulfillment
• Weighting rules, sampling, analysis and insurance

Impact

According to the Indian Financial Express, 80 percent of world trade with grains is regulated under GAFTA-conditions.

See also

• Federation of Oils, Seeds and Fats Associations
  Federation of Oils, Seeds and Fats Associations
  The Federation of Oils, Seeds and Fats Associations is the main trade association for the oil, seeds and fats industry. It regulates legal contracts in the industry.-History:...
  
   (FOSFA)
• Refined Sugar Association
• Greater Arab Free Trade Area

Literature

• Hugh Barty-King Food for Man and Beast: The Story of the London Corn Trade Association, the London Cattle Food Trade Association and the Grain and Feed Trade Association, 1878–1978, London: Hutchinson, 1978