Mintec to launch US IQF Vegetables and Organic Fruit Mintec Benchmark Prices

All Market Notes 14 September 2023

Following a period of market feedback, Mintec has decided to launch additional Mintec Benchmark Prices for IQF corn, IQF carrot and IQF onion, IQF organic strawberry, and IQF organic mango Mintec Benchmark Prices. The publication of the assessments will start on Friday, September 29^th, 2023.  

The initial proposal was announced in a market note published on August 28^th, 2023, and can be viewed here.  

The full specifications for the assessments are as below:  

The assessment 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 and vegetable industry, reliable benchmarks for this market are opaque. US frozen fruit and vegetable sales reached $7.1 billion in 2021/22, with sales of frozen produce expected to continue growing. Frozen corn, carrots, onions, organic strawberries, and organic mangos are commonly traded frozen produce items. Mintec’s offering of reliable and transparent pricing for this market will have a significant, positive impact on market transparency. Increasing market value and volume traded are fostering the need for transparent price benchmarks, according to market comments provided to Mintec. These new 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.