SUBSCRIBER NOTE: Platts to launch new Thai Hi-Pol sugar forward physical assessment curve

Platts proposes to launch new forward physical assessments for Thai Hi-Polarization sugar on October 5, 2015. The daily assessed curve would include the first three 75-day shipment windows.

The new assessments would reflect existing trading patterns where Thai Hi-Pol sugar is traded forward over four 75-day shipment windows. As the calendar year runs, these are March 1 to May 15, May 1 to July 15, July 1 to September 15, and October 1 to December 15.

Platts currently publishes bids, offers and trades heard in the market for these shipment cycles. The proposed forward physical curve would create formal assessments for these windows. Platts would continue to publish heards gathered from the market and the new assessments would add to Platts existing spot Thai Hi-Pol assessments.

The forward physical curve would adopt the same underlying terms and conditions reflected in the existing spot assessments. It would reflect a minimum polarisation on a wet basis of 98.5 degrees at the time of shipment.

Cargo assessments will reflect parcels of 12,000 mt, though FOB cargoes of between 8,000 mt and 12,000 mt will be considered. Loading locations FOB Bangkok, Laem Chabang, Koh Si Chang and Sri Racha will be considered.

The assessments will roll forward in line with expiry of the ICE Sugar No. 11 Futures monthly contract. For example, February 29, 2016 -- expiry day for the March Sugar No. 11 Futures contract -- would be the final assessment day for the March-May 2016 shipment window. On March 1, 2016, the curve would roll forward with May-Jul 2016 the new front window, Jul-Sep 2016 the second window, and Oct-Dec 2016 added as the third window.

The assessments would be published as a premium to the relevant ICE Sugar No. 11 Futures contract and as an outright price at 1630 London time. The outright price would not include an additional polarization premium.

The assessments would be published in the Kingsman Daily Sugar Market Report, on Platts Agriculture Alert and in Platts Market Data. Symbols will be announced at a later date.

Platts invites questions and feedback to europe_ags@platts.com and cc: to pricegroup@platts.com, by September 11, 2015.

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 upon request.

More information about Platts sugar methodology is available at http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpec s/sugar_methodology.pdf.