Expana proposes to launch 6 new US IQF Bell Pepper EBP

Expana is proposing to launch 6 new monthly Expana Benchmark Prices (EBP) for the North American IQF markets covering green, red, and yellow bell peppers. Expana is collecting feedback on this proposal from market participants until Friday, June 6, 2025.

If the industry supports this proposal, Expana suggests launching the monthly assessments on Monday, June 30, 2025.

The proposed specifications for the assessments would be as below:

The proposed assessments would reflect the transactable value at 16:00:00 US Eastern time.

The proposed assessments complement Expana’s existing coverage for the North American IQF markets and cover commonly traded produce items in the category.

In 2024, bell peppers played a significant role in US vegetable imports. Their import volume increased notably, contributing to the overall rise in prepared or preserved vegetable imports, which surpassed $3 billion—a 14% increase from $2.73 billion in 2023. Among both, conventional and organic categories, bell peppers ranked in the top three fresh vegetables by import value. Their growing demand reflects broader trends in the vegetable market, including the expanding US market for individually quick frozen (IQF) vegetables, which was valued at $479.5 million in 2022 and is projected to reach $549.7 million by 2033.

Market participants expressed a strong interest in expanding the range of vegetable offerings to enhance the vegetable selection available through Expana. By focusing on these items, Expana can better align its offerings with market demands. The proposed launches would introduce additional independent and reliable benchmarks for commonly traded items within this category. These initiatives will provide stakeholders with more transparency and independent benchmarks in the IQF category.

If you have any feedback or suggestions on this proposal, please send this to [email protected] by Friday, June 6, 2025 and clearly state which market note your comments relate to, and if comments are intended for publication by Expana. Expana will acknowledge receipt of all comments by email.