Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| ICE (New York)Headline | futures | — | USD/MT | 520–580 | Jan 2025 | — |
| EU/Rotterdam | physical_fob | — | USD/MT | 620–680 | Jan 2025 | — |
| Santos, Brazil | physical_cif | — | USD/MT | 540–600 | Jan 2025 | — |
Premium structure
Differentials between benchmarks reveal where physical sugar (refined) trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| ICE (New York) | — | |
| EU/Rotterdam | — | |
| Santos, Brazil | — |
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