Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Delhi/Mumbai spot marketHeadline | physical_fob | — | USD/MT | 5200–6800 | Dec 2024 | — |
| Indian ports (FOB equivalent) | physical_cif | — | USD/MT | 7500–9200 | Dec 2024 | — |
| Jebel Ali/Dammam | physical_cif | — | USD/MT | 5800–7200 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical ghee trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Delhi/Mumbai spot market | — | |
| Indian ports (FOB equivalent) | — | |
| Jebel Ali/Dammam | — |
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