Proposal to amend palm oil, RBD, fob US Gulf price assessment methodology: pricing notice

This price assessment will be amended to AG-PLM-0003 Palm oil, RBD, ex-tank US Gulf, US cents/lb on the proposed date, subject to feedback.

Fastmarkets understands that this market is negotiated on an ex-tank basis in the US.

A decision notice will be published, pursuant to a 20-day consultation period, on Wednesday August 12, with the change taking effect on August 19.

The existing methodology for the price assessment in question is as follows:

AG-PLM-0003 Palm oil, RBD, fob US Gulf, US cents/lb 

Quality: Max. 0.1% Free Fatty Acid (FFA) content (as palmitic) Max 0.1% Moisture and Impurities (M&I) Iodine value 50-55 Melting point max. 33- 39°C Colour max 3 Red Quantity: Min. 500 mt. Other sizes may be considered for inclusion in the assessment but normalized to reference volume
Location: Port of New Orleans (NOLA) and Port of Houston
Timing: Within 1-30 days of assessment. For example, on September 1st, Fastmarkets M1 assessment represents the full month September. On September 15th, Fastmarkets M1 assessment represents the remaining days in September through till October 14th. Unit: US cents/lb
Publication: Daily, timestamped 4pm NY time

It will appear as follows, effective August 19, pending feedback:

AG-PLM-0003 Palm oil, RBD, ex-tank US Gulf, US cents/lb 

Quality: Max. 0.1% Free Fatty Acid (FFA) content (as palmitic) Max 0.1% Moisture and Impurities (M&I) Iodine value 50-55 Melting point max. 33- 39°C Colour max 3 Red Quantity: Min. 500 mt. Other sizes may be considered for inclusion in the assessment but normalized to reference volume
Location: Port of New Orleans (NOLA) and Port of Houston
Timing: Within 1-30 days of assessment. For example, on September 1st, Fastmarkets M1 assessment represents the full month September. On September 15th, Fastmarkets M1 assessment represents the remaining days in September through till October 14th. Unit: US cents/lb
Publication: Daily, timestamped 4pm NY time

This price forms part of the Fastmarkets fats and oils package.

To provide feedback on this proposal, please contact pricing@fastmarkets.com and fats_oils@fastmarkets.com. Please add the subject heading: “re: Update to palm oil, RBD, fob US Gulf.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.