Mintec proposes to launch new Egyptian IQF Strawberry Mintec Benchmark Prices

All Market Notes 01 March 2023

Mintec is proposing to launch 7 monthly Mintec Benchmark Prices (MBP) for Egyptian Origin IQF Strawberries and is collecting feedback from market participants in the fruit markets until Wednesday, 15th March 2023. If supported by the industry Mintec would launch these assessments effective 31st March 2023. 

The proposed specifications for these assessments would be: 

The proposed assessments for the Egyptian FOB & European delivered prices would reflect the transactable value on the last business day of each month at 16:00:00 London time.

The proposed assessments that would be delivered to the East Coast of the US would reflect the transactable value on the last business day of each month at 16:00:00 US Eastern Time.

Egypt is a major exporter of IQF strawberries supplying large volumes to both the US & Europe. The proposed assessments would provide market participants an independent price benchmark for Egyptian strawberries in what is traditionally a very opaque market. Additionally, the inclusion of delivered prices into the United States would complement Mintec’s existing North American IQF strawberry offering and allow for price comparisons between different supply origins.

Please send any questions or comments about this market note to methodology@mintecglobal.com by Wednesday, 15th March 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.