Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| IndiaHeadline | physical_fob | Visible transaction unit price in global trade data | USD/MT | 2060–2060 | Dec 2025 | — |
| China | physical_fob | Visible transaction unit price in global trade data | USD/MT | 3840–3840 | Dec 2025 | — |
| Bangladesh | physical_cif | Visible transaction unit price in global trade data | USD/MT | 1320–1320 | Dec 2025 | — |
Premium structure
Differentials between benchmarks reveal where physical ajwain trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| India | — | |
| China | Premium versus India reflects smaller traded lots and/or higher landed specification. | |
| Bangladesh | Lower observed price may reflect different quality, packaging, or trade terms. |
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