In this episode, we welcome Anthony Britain, a commodity risk management expert with experience at Tesco, Unilever, and Swiss retail group Migros. Anthony shares what it was really like managing Unilever's vegetable oils book during the Ukraine invasion and picking up the cocoa portfolio just as prices hit historic highs. We discuss why private label is an interesting space for commodity risk in retail, how retailers are building out sophisticated trading teams, and what it takes to rise in this industry.