Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Peru/CallaoHeadline | physical_cif | — | USD/MT | 1350–1550 | Dec 2024 | — |
| Chile/Valparaíso | physical_fob | — | USD/MT | 1320–1480 | Dec 2024 | — |
| Norway/Stavanger | physical_fob | — | USD/MT | 1600–1800 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical fishmeal trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Peru/Callao | — | |
| Chile/Valparaíso | — | |
| Norway/Stavanger | — |
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