Mintec proposes to launch Chinese origin squid Mintec Benchmark Prices

All Market Notes 31 August 2023

Mintec is proposing to launch eight monthly Mintec Benchmark Prices (MBP) for Illex illecebrosus squid (‘Illex’) and is collecting feedback from market participants in the seafood markets until Thursday 14th September 2023.

Mintec is proposing to launch this assessment, if supported by the industry, on Friday 29th September 2023.

The proposed specifications for these assessments would be as below:

The proposed assessments would reflect the transactable value at 16:00:00 London time.

Illex is one of the most widely traded species of squid and is popular for both retail and foodservice usage. China is the major global hub for importing and processing Illex. European ports around the Mediterranean Sea are key destinations for Chinese exporters.

China’s importance as the major supplier of processed Illex, and Europe’s position as a major Illex consumer, supports the demand for these benchmarks. The proposed assessments would provide independent reference points for industry and provide Mintec subscribers additional insight into the global squid markets.

Please send any questions or comments about this market note to methodology@mintecglobal.com by Thursday 14th September 2023, 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