Platts proposes to expand Asia pork coverage from August 3

Platts, part of S&P Global Energy, proposes to expand its Asia pork assessments to include a new quality category, including sheet-ribbed, skinless bellies, effective Aug. 3.

The new assessment complements the existing Platts "field-to-fork" coverage in Asia-Pacific, which already includes the Pork Belly (Single-ribbed) CFR North Asia assessment, thereby increasing transparency in the global animal proteins market.

The proposed new daily assessment -- Pork Belly (Sheet-ribbed) CFR North Asia -- aims to enhance pricing transparency by distinguishing between the two different cuts that are traded separately in the market, with no fixed premium spread applied to prices:

• Sheet-ribbed bellies refer to pork bellies in which the spareribs are removed in one large piece, together with most of the cartilage and associated soft bones.
• Single-ribbed bellies refer to pork bellies in which the rib bones are removed individually, while the intercostal meat between the ribs remains attached.

The new assessment will reflect Pork Belly (Sheet-ribbed) delivered to Japan, the largest pork importer in Asia. Japan imported 1.06 million metric tons of pork (excluding offal) in 2025, accounting for 8% of global pork imports and reinforcing its role as a key price-setting destination for regional trade, according to S&P Global Market Intelligence Global Trade Analytics Suite.

The specifications of the new price assessment would be as follows:

Assessment Name: Pork Belly (Sheet-ribbed) CFR North Asia.

Basis and location: CFR Tokyo, Japan, terminal handling charges excluded.

Quality: Frozen pork belly, skinless and sheet-ribbed.

Quantity: Assessment reflects one 40-foot refrigerated container load of 24-27 mt net weight.

Timing: Assessment reflects product to be shipped 30 to 60 days from the date of publication.

Payment terms: Cash against documents.

Unit of Measurement: $/mt.

Market Close: 16:30 Penang time.

The assessment would be based on bids, offers, trades and market activity reported to Platts before 4:30 pm Penang time and would reflect the prevailing market value at the time of close. Also, it will follow the Platts Penang publishing calendar.

Please submit any feedback, comments or questions about this proposal to Platts_AgricultureandFood@spglobal.com and pricegroup@spglobal.com by June 26.

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.