Related Parties

3 Months Ended

Mar. 31, 2025

Related Party Transactions [Abstract]

Related Parties

Related Parties

In the ordinary course of business, the Company enters into related party transactions, mainly with the Company's minority shareholders of certain consolidated subsidiaries, regarding sales and purchases of commodities. Such related party sales comprised less than 4% of the Company's Sales and merchandising revenues for the three months ended March 31, 2025 and 2024. Related party purchases comprised less than 1% of the Company's Cost of sales and merchandising revenues for the three months ended March 31, 2025 and 2024.

Receivables and payables resulting from the related party transactions described above comprised less than 3% of the Company's Accounts receivable, net, and less than 1% of the Company's Trade and other payables balances as of March 31, 2025, December 31, 2024 and March 31, 2024.

The Company believes all transaction values to be similar to those that would be conducted with third parties at arm's-length.