Platts will change assessment period for CIF Marmara (12.5%) wheat assessment

In order to reflect changes in the market for Black Sea wheat coasters, Platts, part of S&P Global Commodity Insights, will change the assessment period for its CIF Marmara wheat (12.5%) AMARA00 coasters assessment, effective Oct. 20.

Platts understands that most of the wheat shipped in coasters from the Black Sea and the Azov Sea is now traded for more prompt shipment. That is a response to Russia's export duty, which is recalculated weekly, as well as increased market volatility, meaning market participants are less willing to commit to volumes further out.

Starting from Oct. 20, Platts' assessment will reflect cargoes shipped from the Azov Sea port 15-30 days ahead of the date of publication. Cargoes from other locations with matching CIF Marmara arrival times will continue to be considered. This will replace the current assessment period, which covers cargoes for shipment 28-42 days ahead of the day of publication.

Where there is a difference between the price at the start and end of the assessment period, Platts' assessment will be an average of the price on each working day in that period.

Platts understands that indications in the CIF Marmara market are often provided for half-month periods. On Oct 20, 2023, for example, the assessment period will span from Nov. 4 to Nov. 19, and the published assessment may reflect different values for the first half of November and the second half of that month. If so, it will use a weighted average reflecting the number of working days in each half-month period.

Platts resumed the publication of its CIF Marmara wheat (12.5%) AMARA00 coasters assessment on Aug. 23: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/082323-platts-resumes-publication-of-one-cif-marmara-wheat-coasters-assessment-aug-23

Please send any questions and comments to MRTS_GrainsRiceOilseeds@spglobal.com and pricegroup@spglobal.com.

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