Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Antananarivo, MadagascarHeadline | physical_fob | — | USD/kg | 400–650 | Dec 2024 | — |
| Manado, Indonesia | physical_fob | — | USD/kg | 280–450 | Dec 2024 | — |
| Veracruz, Mexico | physical_fob | — | USD/kg | 350–550 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical vanilla beans trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Antananarivo, Madagascar | — | |
| Manado, Indonesia | — | |
| Veracruz, Mexico | — |
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