LONDON and NEW
YORK and SINGAPORE,
Nov. 4,
2024 /PRNewswire/ -- Platts, part of S&P
Global Commodity Insights, will enhance transparency in the global
pork market with the launch of daily spot physical price
assessments for pork in Europe and
North Asia, effective November 1.
According to S&P Global Commodity Insights, global pork
consumption has steadily grown to the current rate of about 118.3
million metric tons per year and is expected to continue an upward
trajectory. Globally, pork continues to be the protein of choice
across Asia and the Caribbean and makes up 40% of global per
capita consumption and 68.6% of consumption in China.
The Platts EU Pork Marker (EUPM) will reflect the spot physical
value of frozen pork belly (bacon) on a Free Carrier (FCA) basis,
Barcelona, Spain, while the Pork
Belly Cost and Freight (CFR) North
Asia assessment will focus on frozen pork belly delivered on
a cost and freight basis to Busan, South
Korea. These new price references build on the suite of
protein price assessments launched for chicken, beef, and seafood
earlier in the year, providing critical insights for stakeholders
in the largest export markets and top importing regions.
Platts' deeper expansion into proteins significantly enhances
transparency across the wider food value chain, and extends its
existing coverage of animal feeds, including grains and oilseeds.
This launch means Platts delivers a comprehensive spectrum of
cross-market price fundamentals and insights, empowering customers
to make more informed decisions.
"Our pork price assessments from the EU bring greater price
transparency to the world's largest export market and our
Asia pork assessments to the top
importing region. By reflecting spot physical values in beef,
chicken, seafood and now pork, we underscore our commitment as the
world's leading price reporting agency to deliver comprehensive and
independent coverage of the agriculture market," said
Piero Carello, Global Pricing
Director, Agriculture & Food, S&P Global Commodity
Insights. "This full spectrum protein value chain facilitates a
seamless flow of information and provides valuable insights that
empower market participants to make informed data-driven
decisions."
Platts protein assessments are published in Protein
Daily, Platts Connect, and on Commodity Insights LIVE, where
they are free to view. Register at www.ciLIVE.com.
S&P Global Commodity Insights has been covering agriculture
markets for more than 15 years, including Platts suite of existing
assessments and benchmarks in grains, oilseeds, vegetable oils,
animal feed, plant protein markets, and as of June 3rd – animal protein markets –
chicken and beef. For details of S&P Global Commodity Insights'
protein and agriculture offerings, visit: agribusiness
industry solutions.
Media Contacts:
Americas: Kathleen Tanzy + 1
917-331-4607, kathleen.tanzy@spglobal.com
Jeff Marn +1
202-560-0776, jeff.marn@spglobal.com
EMEA: Paul Sandell + 44 (0)7816 180039,
paul.sandell@spglobal.com
Asia: Melissa Tan
+ 65-6597-6241, melissa.tan@spglobal.com
About S&P Global Commodity Insights
At S&P Global Commodity Insights, our complete view of global
energy and commodity markets enables our customers to make
decisions with conviction and create long-term, sustainable
value.
We're a trusted connector that brings together thought leaders,
market participants, governments, and regulators and we create
solutions that lead to progress. Vital to navigating commodity
markets, our coverage includes oil and gas, power, chemicals,
metals, agriculture, shipping and energy transition.
Platts® products and services, including leading
benchmark price assessments in the physical commodity markets, are
offered through S&P Global Commodity Insights. S&P Global
Commodity Insights maintains clear structural and operational
separation between its price assessment activities and the other
activities carried out by S&P Global Commodity Insights and the
other business divisions of S&P Global.
S&P Global Commodity Insights is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information visit
https://www.spglobal.com/commodityinsights.
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SOURCE S&P Global Commodity Insights