Collect respondent prices
Respondents submit fair EOD price assessments for the relevant commodity, basis and delivery period.
Methodology
How UGA Index is calculated
UGA Index uses a repeatable daily process to turn respondent price indicatives into verified and locked index values for each commodity, delivery basis and calculation date.
Calculation approach
From respondent EOD prices to a published benchmark
UGA Index is calculated from daily price assessments submitted by a representative group of market respondents. Each submitted value should reflect a fair end-of-day market level for an executable export transaction, using the defined commodity, delivery basis and delivery period.
The standard basis is CPT Black Sea Panamax Ports (Odesa, Chornomorsk and Pivdennyi), and the delivery period is T+30. Prices are collected for each commodity and calculation date, then validated before publication. The calculation first identifies the median value in the respondent sample. Prices that deviate by more than ±2% from the median are excluded from the calculation as potential outliers.
The index value is then calculated as the arithmetic average of the cleaned respondent sample. A basket is publishable only when at least 5 valid respondent prices remain after filtering. If the data are insufficient, the system may display external market indicatives separately, but they are not silently published as UGA Index values.
Before publication, values can be reviewed, corrected and versioned. After publication, the final value is locked. The system records changes, recalculations and publication events in an audit log.
CPT UA Black Sea
Standard delivery basis
T+30
Standard delivery period
5+
Minimum valid respondents
EOD
End-of-day price assessment
±2%
Median-based outlier filter
Locked
Final value after publication
Methodology
Calculation flow
Validate the sample
The system calculates the median and checks all submitted values against the central market level.
Exclude outliers
Prices deviating by more than ±2% from the median are excluded from the cleaned sample.
Calculate the index
The published value is the arithmetic average of the cleaned sample, provided the minimum respondent count is met.
Verify and lock
Before publication, values may be reviewed and versioned. Once published, the final value is locked and recorded in the audit log.
Official methodology PDF
Download the methodology document used as the basis for the UGA Index page. The production site can replace this file with the signed and stamped version approved by UGA.
Methodology
FAQ
What is UGA Index?+
UGA Index is a daily benchmark for Ukrainian agricultural export prices. It publishes aggregated index values for selected commodities and delivery conditions.
Who provides data?+
Data are collected from a defined pool of market respondents. Individual company submissions are not disclosed in public outputs.
How are outliers handled?+
The system calculates the median of the respondent sample and excludes values that deviate by more than ±2% from that median before calculating the final average.
What happens if there is insufficient data?+
If fewer than 5 valid respondent prices remain after filtering, the basket is not publishable as a UGA Index value. External indicatives may be shown only as separate reference data.
Can published values be changed?+
Before publication, values can be reviewed and versioned. After publication, the final value is locked and changes are recorded through the audit trail.
Can the methodology scale?+
Yes. The methodology supports future weighted baskets, additional delivery periods such as T+60 and T+90, and separate bid, offer or mid quote types.