Mintec proposes to change the native currency of six cocoa MBPs to Euro

All Market Notes 11 February 2021

Mintec proposes to change the native currency for six of its cocoa Mintec Benchmark Price assessments, effective 22 March, and invites feedback to this proposal until 26 February.

These prices are assessed ex-works in Western Europe, with most of the trade happening in and around the Netherlands. Therefore, publishing these assessments in EUR/mt would more closely reflect the price levels being heard in the market. In addition, it would minimise weekly exchange rate volatility.

Such a change would also affect all historical pricing on the above series, potentially causing disruption to those clients using the Excel API set up to download prices in their default currency. These changes are to be brought about in an effort to increase Mintec’s offering to its clients by offering greater transparency to our ways of working.

Please send any feedback to Methodology@mintecglobal.com by Friday 26 February, and clearly state which market note your comments relate to, and if comments are intended for publication by Mintec. 

Mintec will acknowledge receipt of all comments by email.