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What does FOB price mean? What currency is usually used for commodity export?
The export currency can be the currency of the exporting country, the currency of the importing country, or the currency of a third country agreed by both parties. However, due to the instability of foreign exchange prices, we should be careful when choosing the currency. FOB is a trade term, which is a part of a complete international trade price. A complete international trade quotation includes unit price, pricing currency, pricing unit and trade terms, such as FOB Shanghai 150MT, FOB Shanghai 150 USD per metric ton, FOB Shanghai and other trade terms can determine the responsibilities, risks and expenses of buyers and sellers. FOB means FOB at the port of shipment, which means that according to this clause, if the seller wants to transport the goods to the ship designated by the buyer at the port of shipment, the delivery is completed, and the buyer is responsible for transportation and insurance. The risk dividing line between the two parties is the ship at the port of shipment. The goods do not cross the ship's rail, and the risk of crossing the ship's rail is borne by the seller.

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