(MENAFN- EIN Presswire)
Mintec and leading brands, Urner Barry and Feedinfo complete the latest IOSCO accreditation for proprietary agri-food commodity prices. Mintec's proprietary prices are widely regarded as the industry standard within the agrifood industry.”
- Spencer Wicks, Chief Executive Officer
LONDON, ENGLAND, February 13, 2024 /EINPresswire / -- Mintec has successfully completed an independent review of its proprietary food ingredient and agricultural commodity price assessment process for a fourth consecutive year. The International Organization of Securities Commissions (IOSCO) review encompassed 66 assessments for the company as a whole (including owned brands Urner Barry and Feedinfo) across the agri-food supply chain. Mintec achieved 41 Type 2 and 25 Type 1 assurances across its brands.
IOSCO is recognized as the global standard for Price Reporting Agencies (PRA). The PRA principles ensure the governance and integrity of the price assessment process and provide users with reliable benchmark prices. The review was undertaken to meet IOSCO's recommendation that PRAs engage an external auditor to review and report on their adherence to its stated methodology criteria and the requirements of the IOSCO PRA Principles. The review included a comprehensive evaluation of Mintec's documentation and proprietary pricing relating to its processes for assessing market prices for food ingredients and agricultural commodities.
“Mintec's proprietary prices are widely regarded as the industry standard within the agrifood industry,” said Spencer Wicks, Chief Executive Officer at Mintec.“Our rigorous assessment methodology and market-leading number of IOSCO-assured assessments allow for risk management opportunities in the food-commodity community that were previously unserved by existing financial instruments. This is underlined by the strong interest from the risk management industry to use Mintec's proprietary prices as the basis of their contracts.”
(Click here to see IOSCO report)
Mintec enables the world's largest agri-food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our innovative SaaS platform, Mintec Analytics, which delivers proprietary market prices and analysis for more than 16,000 food ingredients and associated materials. Our data and solutions empower our customers to understand prices better, analyze their spending, and negotiate confidently with suppliers.
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About Urner Barry
Urner Barry is the leading provider of actionable intelligence to stakeholders in the poultry, egg, meat, seafood, plant protein and related segments of the food industry. The business operates from Toms River, New Jersey. For over 160 years, Urner Barry's distinguished team of trusted market experts, data scientists, and economists has been relied on to provide our client base with independent and comprehensive market coverage. Price history, in-depth analysis of key market drivers, import and export trade data and global news are all available as services. Urner Barry provides the data that helps feed the world.
Feedinfo is the animal nutrition & feed sector's favourite intelligence service. Designed for feed additive producers, feed manufacturers, integrators and other organisations within animal nutrition, Feedinfo offers the tools needed to make even more informed negotiations, make better supply chain and investment decisions, develop their products, and much more.
With a sophisticated (and the industry's only IOSCO-compliant) feed additives price reporting service, the fastest and most in depth news and insight coverage in the industry, and the most extensive source of scientific information curated exclusively for the animal nutrition sector; Feedinfo gives you the tools you need, in one place.
Mintec Global PR
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