Mintec proposes to launch additional new US sugar Mintec Benchmark Prices

All Market Notes 24 February 2023

Mintec is proposing to launch additional new weekly Mintec Benchmark Prices (MBP) for US granulated cane sugar (Southeast) and beet sugar (Midwest) and is collecting feedback from market participants in the sugar markets until Friday, March 10th, 2023.   

The proposed specifications for these assessments would be: 

The proposed assessment would reflect the transactable value every Wednesday at 16:00:00 US Eastern time.  

Due to the opaque nature of the US sugar industry, reliable benchmarks are difficult to find. The complex nature of the industry, with high levels of trade protectionism and variable input costs, coupled with the large size of volume traded and importance of sugar as a key commodity for many businesses, has led to high demand for such a benchmark. These Mintec Benchmark Prices would provide an independent reference point for the industry. In addition to the existing new MBP for US sugar, which are assessed on a spot basis, these new benchmarks would provide further clarity on 12-month contract pricing, a common feature of the industry.  

Please send any questions or comments about this market note to methodology@mintecglobal.com, by Friday, March 10th, and clearly state which market note your comments relate to, and if comments are intended for publication by Mintec. 

Mintec is proposing to launch these assessments, if supported by the industry, on Wednesday, March 29th, 2023. 

Mintec will acknowledge receipt of all comments by email.