What are Platts vegetable oil price assessments?
On December 10, 2018, S&P Global Platts launched a daily spot physical assessment for Sunflower Oil FOB Black Sea Ukraine.
The assessments reflect a market close time stamp of 5:00 pm London.
On September 2, 2019, S&P Global Platts launched 4 price assessments to bring greater transparency to the growing palm market:
— Crude Palm Oil (CPO) FOB Indonesia
— Crude Palm Oil (CPO) CFR West Coast India
— Palm Fatty Acid Distillate (PFAD) FOB Indonesia
— Refined, Bleached and Deodorized (RBD) palm stearin FOB Indonesia
This was followed on November 1, 2019, by the launch of 2 new price assessments:
— Crude Palm Oil (CPO) CIF Rotterdam
— Crude Palm Kernel Oil (CPKO) CIF Rotterdam
The daily price assessments are in USD per metric ton reflecting the prevailing value of the market at either 6:00 pm Singapore time (1000 GMT) or 4:30 pm London time.
On September 3, 2019, S&P Global Platts launched a new daily price assessment for soybean oil exports out of Argentina: Soybean Oil Argentina FOB Up-River
This was followed on March 16, 2020 by the launch of a daily FOB Brazil soybean oil price assessment: Soybean Oil Brazil FOB Paranagua
They are daily price assessments is publishing a differential price, or basis, versus the relevant prevailing futures contract in points per pound (where one US cent is equivalent to 100 points), as well as a flat price in US dollars/mt and reflect the prevailing market value at 5:30 pm Sao Paulo time.