Extension of India soybean oil, sunflower oil consultation

The consultation, which was originally open until February 6, sought to address growing market interest in these prices, to give more visibility into the price formation process and to more closely align these assessments with observed trading patterns.

Specifically, Fastmarkets is seeking further feedback on:

• Changing the timestamp for the publication for its AG-SYB-0032 Soyoil cfr India $/mt and AG-SSD-0001 Sunoil cif India $/mt from 6pm Singapore time to 9pm Singapore time.
• Changing the location of its AG-SYB-0032 Soyoil cfr India, $/mt assessment from “West Coast India” to “Basis Kandla.”

Extended consultation period
The extended consultation period for these proposed changes starts from Tuesday February 10 and will end on Monday February 16. Any changes will then take place, subject to market feedback, on an agreed-upon date after the end of the extended period.

To provide feedback on this proposal, or if you would like to provide price information by becoming a data submitter to these prices, please contact pricing@fastmarkets.com and fats_oils@fastmarkets.com. Please add the subject heading “re: India vegoil prices.”

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

Fastmarkets will publish the outcome of this extended consultation by Wednesday February 18, including a summary of the feedback.

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