Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Guangxi/Yunnan, ChinaHeadline | physical_fob | — | USD/MT | 4200–5200 | Dec 2024 | — |
| Ho Chi Minh City, Vietnam | physical_fob | — | USD/MT | 3800–4800 | Dec 2024 | — |
| Rotterdam, Netherlands | physical_cif | — | USD/MT | 5100–6200 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical star anise trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Guangxi/Yunnan, China | — | |
| Ho Chi Minh City, Vietnam | — | |
| Rotterdam, Netherlands | — |
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