Mintec has launched Sustainable Palm Oil prices to bring greater transparency to this market and enable buying teams to make more informed purchasing decisions.
Marcel Goldenberg
Head of Proprietary Pricing at Mintec
LONDON, UNITED KINGDOM, February 18, 2022 /EINPresswire.com/ — Mintec has become the first Price Reporting Agency (PRA) globally to publish assessments for the sustainable palm oil market. This coverage brings added transparency and market information to a developing industry that is seeing growth of around 9% annually.
The palm oil industry has been striving to provide a more sustainable product due to a growing concern over deforestation associated with palm oil production. This has driven an increase in sustainable palm oil production as well as traded volumes.
Sustainable palm oil is set apart from regular palm oil due to additional environmental and social regulations on palm oil plantations and the growth of the palm fruit. Sustainable palm oil typically trades at a premium to regular palm oil.
Marcel Goldenberg, Head of Proprietary Pricing at Mintec, said: “We’ve been covering the palm oil market for a long time and have been cognisant of the concerns that surround it. We can see that sustainable palm oil is an ever-growing market, highlighted by the fact that our clients have come to us asking to provide pricing insights into sustainable palm oil as they cannot get this anywhere else. Given that this real need exists for price information in sustainable palm, we are pleased to be able to offer this to the wider industry.”
The current sustainable palm oil market is estimated to be worth $20 billion globally and market participants expect it to grow to $30 billion by 2026.
The new Mintec assessments offer the industry the ability to compare crude palm oil prices directly with sustainable palm oil prices both on a fully segregated and mass balance basis. These assessments bring considerably more transparency to the sustainable palm oil industry which has historically been underserved.
Kyle Holland, Oilseeds Pricing Analyst at Mintec, said: “As part of my regular palm oil coverage I’ve already been obtaining sustainable palm oil prices and insights. It is the natural next step for Mintec to make this information available to the whole market in the form of Mintec Benchmark Prices which adhere to our rigorous and robust methodology.”
A copy of the IOSCO assurance report can be downloaded here
A copy of the February Mintec Monthly Vegoil report can be downloaded here
For further information please contact Kyle Holland, Oilseeds Pricing Analyst at [email protected]
To view the methodology and specifications for Mintec Benchmark Prices please click here
About Mintec
Mintec enables the world’s largest food, CPG and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for more than 15,000 food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyse their spend and negotiate with confidence.
More Information
For information on Mintec Analytics data, analytical tools, or market insight, contact David Bateman, Global Head of Marketing on +44 (0) 1628 642762 or email: [email protected]
Website: www.mintecglobal.com
UK: Sales +44 (0) 1628 642 482
US: Sales +1 (972) 897 7494
[email protected]
Follow us on social:
LinkedIn: linkedin.com/company/mintec-ltd/
Twitter: @MintecLimited
David Bateman
Mintec
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Mintec Analytics – Commodity Price Platform
