Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Lagos/Apapa FOBHeadline | physical_fob | Whole dried Hibiscus sabdariffa calyces, food grade, moisture ≤ 5%, foreign matter ≤ 2%, packed in 25 kg PP bags. | USD/MT | 1800–2300 | May 2026 | — |
| Port Sudan FOB | physical_fob | Deep-red whole calyces, moisture ≤ 5%, aflatoxin and pesticide residues within EU limits, 25 kg bags. | USD/MT | 1900–2400 | May 2026 | — |
| CIF Northwest Europe | physical_cif | Food-grade hibiscus powder (coarse to fine), color-strength standardized, microbiological parameters meeting EU food supplement standards, 20–25 kg bags or drums. | USD/MT | 2600–3400 | May 2026 | — |
| CIF Western Europe | physical_cif | Certified organic Hibiscus sabdariffa calyces, EU organic regulation compliant, moisture ≤ 5%, whole or cut, 20–25 kg bags. | USD/MT | 2800–3600 | May 2026 | — |
Premium structure
Differentials between benchmarks reveal where physical hibiscus trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Lagos/Apapa FOB | — | |
| Port Sudan FOB | Typically trades at a small premium of USD 50–100/MT to standard West African FAQ for EU-spec lots. | |
| CIF Northwest Europe | Premium of roughly USD 600–900/MT over dried whole calyces FOB West Africa, reflecting grinding and QA costs. | |
| CIF Western Europe | Organic premium commonly USD 300–500/MT above conventional hibiscus into the same destination. |
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