Mintec proposes launching additional US IQF Fruit Mintec Benchmark Prices

All Market Notes 21 July 2023

Mintec is proposing to launch IQF Strawberry, Banana & Pineapple Mintec Benchmark Prices and is collecting feedback from participants in the fruit markets until Friday, August 11^th, 2023.  

The proposed specifications for these assessments would be:

The proposed assessment would reflect the transactable value on the last business day of each month at 16:00:00 US Eastern time.

Due to lack of transparency  in the processed fruit industry, reliable benchmarks for this market are opaque. US frozen fruit sales reached $1.5 billion in 2021/22, with sales of frozen produce expected to continue growing. Frozen strawberries, mangos, bananas, and pineapples are commonly traded frozen fruits. Mintec’s offering of reliable and transparent pricing for this market would have a significant, positive impact on market transparency. Increasing market value and volume traded are fostering the need for transparent price benchmarks according to market comments provided to Mintec. The proposed Mintec Benchmark Prices would address this issue and provide an independent reference point for the industry.

Please send any questions or comments about this market note to methodology@mintecglobal.com by Friday, August 11^th, 2023 and clearly state which market note your comments relate to, and if comments are intended for publication by Mintec.

Mintec is proposing to launch this assessment, if supported by the industry, on Thursday, August 31^st, 2023.

Mintec will acknowledge receipt of all comments by email.