Mintec to launch additional new US IQF Strawberry Mintec Benchmark Prices

All Market Notes 24 February 2023

Following a period of market feedback, Mintec will launch additional new monthly Mintec Benchmark Prices (MBP) for US IQF Strawberries. The initial proposal was communicated in a market note which can be found here. The series were originally due to be published on February 28th, however following additional feedback from industry participants to clarify the proposed specifications, this has been moved to Tuesday, March 14th, 2023 in order to provide the most useful benchmarks to the industry. 

Industry feedback also clarified the assessment specifications. The origin has been updated to reflect product produced in the Americas (North and South America). Additionally, the assessment for whole strawberries has been clarified as being of “medium size”, generally defined as 5/8” to 1 ¼" in diameter as per the USDA. The revised specifications for these assessments are: 

The assessments will 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 are difficult to find. US frozen fruit sales reached $1.5 billion in 2021/22, with sales of frozen produce expected to continue growing. Increasing addressable market value is escalating the need for transparent price benchmarks in the category to help market participants make informed decisions. These Mintec Benchmark Prices will 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 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.