SUBSCRIBER NOTE: Platts updates methodology for weekly CNF Antwerp sugar assessment

Following the discontinuation of key freight routes, S&P Global Platts seeks feedback on updating and clarifying its methodology for the weekly raw sugar CNF Antwerp delivered assessment.

Currently, the calculation uses an assessed freight rate for South East Brazil (Santos) to Russia (Novorossiisk) for 20,000 mt vessels (code SYCAD00). This freight route assessment is subject to a proposed discontinuation, effective October 3, 2017.

Platts is, therefore, inviting feedback on a proposal to replace the existing freight element with a standardized freight value of $28.96/mt, based on the average of the last five years of Platts assessments.

Furthermore, we propose to replace the existing calculation, which is an on-the-day assessment of Brazil's VHP CS raw sugar premium and an on-the-day assessment of the ICE gasoil contract as of 16:30 London time, with previous day's values for both assessments.

Finally, the calculation also uses a Black Sea to Antwerp freight calculation that we propose to establish at $3/mt; a Center-South Brazil containers to Europe freight calculation that we propose to establish as $34/mt; and a Continental Europe to Antwerp freight rate that we propose to establish as $30/mt.

Please send any feedback or questions by August 14, 2017, to europe_ags@spglobal.com and pricegroup@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.