MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), is pleased to report the involvement of the United States Department of Agriculture (USDA) in the sampling and testing of Apple Juice Concentrate (AJC) for the new MGEX AJC futures and options contract set to launch on Monday, August 13, 2012.
The importance of an impartial third party sampling and testing service provider is critical in maintaining the integrity of the underlying commodity through the delivery process for a successful futures contract. Accordingly, MGEX has asked the USDA to develop a sampling and testing process to verify the underlying AJC product meets the minimum MGEX contract specifications.
“The USDA is pleased to announce the availability of specialized sampling and testing services to the AJC industry. The USDA will offer unbiased third party confirmation of MGEX AJC quality specifications as part of the delivery process for the new MGEX AJC futures and options contract,” stated the USDA Processed Products Division. The USDA Processed Products Division and Science and Technology Programs conduct quality and chemistry testing of AJC. Tests can be done for acid, brix, turbidity, microbes and more. For more information about USDA testing of AJC please see the link to the USDA’s website at www.mgex.com/ajc/.
“Offering the highest quality services in protecting the product integrity of AJC is one of MGEX’s primary goals. The USDA is an extension of our partnership with the AJC marketplace that provides a full suite of integrated services for not only our market participants but the entire apple juice industry,” said Eric J. Delain, MGEX Corporate Counsel.
The AJC futures and options contract launches on August 13, 2012 at MGEX. Please see www.mgex.com/ajc/ to learn more about this exciting new product.