Mintec to change the assessment unit of its North American and Asian Plant-Based Proteins MBP from kg to lb

All Market Notes 23 January 2023

Following a period of market consultation, Mintec will change the assessment unit from kg to lb for its North American and Asian Plant-Based Proteins MBP.

The current methodology sees the assessment published on a per kilogram (kg) basis and Mintec will change this to per pound (lb) basis.

The methodology change brings this assessment in line with the typical convention in North America and Asia for the plant-based protein trade. This change will see the Mintec Benchmark Prices (MBP) become even more reflective of the terms of trade in these regions and provide greater transparency and usefulness for benchmarking to market participants. European users of these MBP will still be able to view these prices in kilograms by using the unit conversion function in the Mintec Analytics platform.

The methodology change will mean that all historical data for North American Plant-Based Proteins (Mintec Codes SIA1, SCA1, SCA2, PIA1, PCA1 & PCA2) and Asian Plant-Based Proteins (Mintec Codes 5G91, SIC1 & SCC1) will be amended to reflect a “per pound” assessment. This means that all assessments before the methodology change date will be divided by 2.20462. 

The below table shows what the effect on price points will be, taking November 2022 as an example:

This methodology change will take effect on Tuesday, 28th February 2023.

Full details of the current methodology can be found in the Mintec Assessment Specifications Guide available here. Please send any feedback to methodology@mintecglobal.com 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.