In 1906, a group of traders broke away from the LCTA and formed a new more specialised association, the London Cattle Food Trade Association (LCFTA), for those trading in vegetable proteins used as animal feedingstuffs.

GAFTA is headquartered in Holborn, London, and currently operates four more offices, in Beijing, Geneva, Kyiv and Singapore.

[2] GAFTA sets out to promote international trade and protect the interests of its members.

Activities include definition and regulation of It is estimated that 80% of all world trade in grains is supplied under GAFTA conditions.

[4] In the event of a dispute regarding the weight, quality or condition of a delivery, the GAFTA contract allows for appointment of GAFTA-approved surveyors representing both parties, and if there is a "major discrepancy" between the results of their surveys, then a third GAFTA-approved surveyor may be appointed as an arbitrator.