SUBSCRIBER NOTE: Platts proposes changes to ethanol prices in Sugar Market Data

Effective December 1, 2015, Platts proposes to change the publication schedule of three ethanol and raw sugar equivalent prices available via Sugar Market Data, and to also bring the name descriptions in line with the original assessments provided via Biofuels Market Data.

The prices are Brazil ex-mill hyd R$/cu m (SGAEC00), Brazil ETH hydrous (SGAED00), and Brazil ex-mill hyd c/lb (SGBAC00).

These prices appear in the Kingsman Daily Sugar Market Report, on Platts Agriculture Alert page PA0510, and in the Platts Sugar Market Data under the aforementioned symbols.

These three prices are based on ethanol assessments basis 1415 Houston time, which are published the previous day via the Biofuels Market Data package. Those assessments are Hydrous ANP Domestic Ex-mill Ribeirao with taxes (Real/cu m) (AAXNQ00), Hydrous ANP FOB Santos/Paranagua (AAXNR00), and Raw Sugar equivalent (basis 96 degrees pol) (c/lb) (AAXOA00).

Currently, Brazil ex-mill hyd R$/cu m (SGAEC00) and Brazil ETH hydrous (SGAED00) are published one day after the respective original assessments Hydrous ANP Domestic Ex-mill Ribeirao with taxes (Real/cu m) (AAXNQ00) and Hydrous ANP FOB Santos/Paranagua (AAXNR00).

Under the proposal, the assessments would be made available via Sugar Market Data on the same day the assessments are published via Biofuels Market Data.

Brazil ex-mill hyd c/lb (SGBAC00), which reflects a raw sugar equivalent price in US cents/lb based on Hydrous ANP Domestic Ex-mill Ribeirao with taxes (Real/cu m) (AAXNQ00), is also published with a one-day time-lag.

This calculated price uses the same underlying calculation as that used for the Raw Sugar equivalent (basis 96 degrees pol) (c/lb) (AAXOA00). Under the proposed changes, that assessment will be made available on the same day under Brazil ex-mill hyd c/lb (SGBAC00) to address fluctuations in the US Dollar/Brazilian Real.

The last change under the new approach will see the three prices available via Sugar Market Data assume the name descriptions of the original assessments.

Proposal Summary

Biofuels Market Data Sugar Market Data

Description Symbol Symbol Current Description

Hydrous ANP Domestic AAXNQ00 SGAEC00 Brazil ex-mill hyd Ex-mill Ribeirao R$/cu m with taxes (Real/cu m)

Hydrous ANP FOB AAXNR00 SGAED00 Brazil ETH hydrous Santos/Paranagua

Raw Sugar equivalent AAXOA00 SGBAC00 Brazil ex-mill hyd (basis 96 degrees pol) c/lb (c/lb)

Platts invites questions and feedback to europe_ags@platts.com and cc: to pricegroup@platts.com, by October 9, 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.