Final decision on proposed changes to India soyoil location, soyoil and sunoil publication details

Fastmarkets invited feedback from the industry on proposed changes to its India soybean oil and sunflower oil prices via an open consultation between January 9 and February 6, which was subsequently extended to February 16.

Following the consultation, Fastmarkets has amended the timestamp for the publication of AG-SYB-0032 Soyoil cfr India and AG-SSD-0001 Sunoil cif India to 11pm Singapore time from 6pm Singapore time and amended the location for AG-SYB-0032 Soyoil cfr India from “West Coast India” to “Basis Kandla”.

The new specifications are listed below, with the amendments in italics:

AG-SYB-0032 Soyoil cfr India $/mt
Quality: 1% FFA max 1.25%, 0.1% max moisture
Quantity: 10,000-20,000 tonnes
Location: Basis Kandla
Timing: Shipment is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the first business day after the 15th of the month.
Unit: $/mt
Payment terms: Irrevocable LC at sight
Publication: Daily, timestamped 11pm Singapore time
Note: Other west coast India locations and quantities may be considered for normalization.

AG-SSD-0001 Sunoil cif India $/mt
Quality: FFA basis 2% max 3% with non-reciprocal allowance of 2/1 for any excess from seller to buyer between 2% & 3%, Fractions in proportion.
Quantity: 3,000 tonnes
Location: India
Timing: Shipment is the next loading month from the assessment day for the first 15 days of the month, with the laycan rolling to the second calendar month on the first business day after the 15th of the month.
Unit: $/mt
Payment terms: Irrevocable LC at sight
Publication: Daily, timestamped 11pm Singapore time
Note: Other quantities may be considered for normalization.

These prices are a part of the Fastmarkets Ags Oils, Fats and Biofuels prices package.

To provide feedback on this decision, 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.

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