Frey takes a natural next step in cotton trading

Frey’s entry into cotton builds on the operating model we have developed across agricultural commodities.

Cotton is a fragmented market where quality, timing, documentation and delivery all matter. When those parts do not line up, reliability breaks down. That is where Frey’s model fits: disciplined execution, close control of the flow and fewer surprises.

Cotton flows are exposed to pressure at every stage. Tight margins can push the market towards short-term decisions; while shifting logistics, quality differences and counterparty risk can quickly turn a planned shipment into a problem. In that environment, reliability is not a given. It must be managed shipment by shipment.

“We did not enter the cotton market to take a risk or speculate. We entered because we believe our operating model can create value in a market where reliability, logistics and execution matter” says Jeff Løcke Laursen, CEO of Frey. Frey entered cotton in Q3 2025.

For buyers, reliability can be the difference between a shipment that supports production and a shipment that creates problems. For suppliers, it matters to work with partners who are available, transparent and able to execute what has been agreed.

In other words: cotton doesn’t need bigger promises. It needs fewer surprises and more reliable partners. “Our ambition is to be a straight and reliable operator in a market where trust and transparency is crucial” says Paul Doran, Cotton Trader at Frey.

Frey will work across key origin and destination markets, including the United States, Brazil, Australia, Europe, West Africa, Bangladesh, Pakistan and Vietnam.

To begin with, Frey is hiring a local team to manage business in Brazil due to its position as one of the world’s vital cotton export markets. Local presence will help to build stronger sourcing capabilities and better market understanding over time.

Even though Frey is still early in cotton, we are entering with the intention to build something better. And reliability is central in our way of approaching the market, meaning shipping when we say we will, delivering the agreed quality, being clear when conditions change, and staying available when a customer or supplier needs
an answer. The immediate priority is disciplined execution: building flows, understanding the market, strengthening relationships and creating the conditions for more reliable supply chains over time.

Frey is a member of BCI (Better Cotton Initiative) and will take a disciplined approach to responsible sourcing in cotton. The focus is to work with trusted partners, improve visibility across the flow and ensure that claims are backed by documentation. The ambition is to continue building responsibility into the business as it grows, with claims that are earned, documented and possible to stand behind.