SUBSCRIBER NOTE: Open consultation on vegoils methodology – additional feedback requested

Fastmarkets Agriculture invited feedback from the industry on the pricing methodology for vegoils and meals, via an open consultation process between October 26 and November 24, 2023.

This consultation was done as part of our published annual methodology review process.

This consultation sought to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs).

This includes all elements of our pricing process, our price specifications and publication frequency.

No formal feedback was received during the consultation period and therefore Fastmarkets will now implement some of the changes proposed as part of the consultation.

Specifically, Fastmarkets Agriculture proposed to add the following new assessments:

Sunoil CPT Danube Ukraine

These changes will take effect from Jan 1, 2024.

In addition, Fastmarkets would like to consult on the launch of two additional prices with effect from Feb 15.

These are:

Sunoil CPT Ukraine (POC)

Sunmeal CPT Ukraine (POC)

This consultation will run until Dec 31, 2023 and a decision will be announced early in the New Year.

Fastmarkets has decided not to launch prices for Sunmeal CPT Danube Ukraine at this point but will continue to research that market.

You can find the current methodology for vegoils and meals here.

For more information on this consultation please email pricing.ags@fastmarkets.com.

Please add the respective subject heading “Vegoils and meals 2023.”