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, [email protected]
Jeff Marn +1 202-560-0776, [email protected]
EMEA: Paul Sandell + 44 (0)7816 180039, [email protected]
Asia: Melissa Tan + 65-6597-6241, [email protected]
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.
SOURCE S&P Global Commodity Insights
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