AJC Update from MGEX
| November 2010, Issue 2 | |
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Greetings!
Following the recent Juice Products Association Fall Business Meeting and the recent MGEX email communication, it is a pleasure to inform you of the tremendous response we have received concerning our Apple Juice Concentrate (AJC) contract announcement. In an effort to provide the industry with progress updates, I'm happy to highlight the recent accomplishment in AJC cash price reporting. I hope you find the information useful and I invite your feedback.
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Juice Products Association
The Juice Products Association (JPA) is a trade association representing the fruit and juice products industry. Its members include processors, packers, extractors, brokers and marketers of fruit and vegetable juices and similar products, as well as industry suppliers and food testing laboratories. Since its founding in 2003, the Association and its predecessor organiza  tions (dating back to 1957) have played a key role in the advancement of the juice industry. At its recent Fall Business Meeting, MGEX gave a presentation to the JPA's Futures Committee on the proposed AJC contract. Information on cash price reporting as well as a detailed outline of MGEX and our products and services were shared with the committee as well as other JPA members in attendance. JPA serves members and consumers by: - Promoting high standards of product safety and quality, and good manufacturing and inspection practices in the production and distribution of juice products;
- Advocating uniformity in standards applicable to industry products;
- Providing input to technology, trade, legislative, and regulatory proposals and actions affecting the industry;
- Providing the industry with the most current information available on business practices;
- Sponsoring research;
- And providing an effective voice for JPA membership to the public, both in the United States and abroad.
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USDA AJC Cash Price Reporting
 The availability of accurate, reliable public pricing for Apple Juice Concentrate is a key component of a successful futures contract. MGEX worked with the United States Department of Agriculture (USDA) to bring this kind of transparent cash price reporting to the AJC industry. Over the past several months, the USDA's Market News Service has been conducting a pilot program whereby AJC prices were collected and reported to a select group of participants. This groundbreaking endeavor has since been fully adopted by the USDA and made a permanent report. The weekly publication, National Apple Processing Report, contains AJC cash price reporting along with other valuable information vital to the producers, processors, brokers and suppliers of the apple industry.
Many companies in the AJC industry have indicated a willingness to provide confidential price information to Market News Service. To ensure your pricing is represented in the weekly USDA report, contact Market News. |
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About MGEX
MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), was established in 1881 and is the only market for Hard Red Spring Wheat (HRSW), National Corn Index (NCI), National Soybean Index (NSI), Hard Red Winter Wheat Index (HRWI), Hard Red Spring Wheat Index (HRSI) and Soft Red Winter Wheat Index (SRWI) futures and options. MGEX is planning to launch futures and options on Apple Juice Concentrate. To learn more about MGEX visit www.mgex.com. |
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MGEX looks forward to sharing additional information in upcoming communications including AJC product testing, contract specifications and information on how to trade. Please feel free to email us anytime.
Sincerely, Rita Maloney Director, MGEX
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