SUBSCRIBER NOTE: Commodity origins, customs duties in Platts price assessments

S&P Global Platts would like to clarify its publishing guidelines around commodity origins and customs duties in contract terms.

Platts reflects products from all appropriate origins in its delivered assessment processes, and bids and offers published in the Platts Market on Close assessment process are considered open origin unless otherwise stated.

Bids and offers for delivered material that contain statements surrounding origin will be considered by Platts for publication.

Platts may not publish such statements if an origin exclusion is deemed unperformable.

Conversely, such indications may also not be published if the exclusion is implicit in the prevailing market standard.

If published after review, origin exclusions may be subject to normalization in value.

Platts assessments reflect commodities traded under standard contract terms, typically including references to international commercial terms such as FOB, CIF, CFR, DES and DAP.

Among other items, these terms state the responsibilities for payments of costs among buyers and sellers, including import customs duties and taxes.

As such, where Platts assessments state duty-unpaid terms including CIF, CFR, DES and DAP, these reflect bids, offers and trades wherein the seller is not responsible for payment of import duties.

Should buyers wish to submit for publication bids for Delivered Duty Paid terms, Platts may publish these and normalize them to a duty unpaid standard for reflection in CIF, CFR, DES and DAP assessments.

Please send any comments or questions to 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 upon request.