Mintec to launch three new European cocoa product ratio assessments

All Market Notes 06 December 2021

Following a period of market feedback, Mintec has decided to launch three new weekly Mintec Benchmark Prices assessments for European cocoa product ratios. These new assessments will begin publication effective 22 December 2021.

The proposal was initially announced in a market note published on 17 November which can be found here.

The assessments, including their specifications, are:

The assessments will reflect implied ratio values on the basis of the weekly assessments of the physical cocoa products in question, as well as the last traded futures value specified above, as close as possible to 15:59:59 UK time. For example, this will mean that the spot ratio for cocoa butter would use the Mintec Benchmark Prices assessment for Cocoa Butter EXW Europe [Mintec Code: COBS], divided by the last traded value as close as possible to 15:59:59 each Wednesday for the London ICE Cocoa front month price, with the COBS price converted to GBP using the spot rate as close as possible to 15:59:59 UK time.

The assessments will provide additional pricing information and transparency for the cocoa industry, enabling more meaningful ratio comparisons that can be used to more fully understand the total cost structure of cocoa products traded in western Europe.

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.