Benchmark contracts
| Benchmark | Type | Contract spec | Unit | Range | As of | Deliverable grade |
|---|---|---|---|---|---|---|
| Ningxia, ChinaHeadline | physical_fob | — | USD/MT | 8000–12000 | Dec 2024 | — |
| Ningxia, China | physical_fob | — | USD/MT | 5500–7500 | Dec 2024 | — |
| Shanghai to Rotterdam | physical_cif | — | USD/MT | 14000–18000 | Dec 2024 | — |
Premium structure
Differentials between benchmarks reveal where physical wolfberry trades relative to the futures reference and how regional grades price against the global standard.
| Benchmark | Differential | Notes |
|---|---|---|
| Ningxia, China | — | |
| Ningxia, China | — | |
| Shanghai to Rotterdam | — |
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