FEBEV and FENEVIAN join forces for more transparency
Until recently, there were two different platforms to follow the weekly price evolutions for cuts in the pig sector, namely the Meatindex of FEBEV (www.meatindex.be) and the Vindex of FENAVIAN (https://vindex.fenavian.be). The members of both organizations indicated that integration of both systems should mean the next step in the development towards more transparency and correct market forces.
This marked the start of a long and intense period of exchange between both parties in order to achieve a joint result. The platforms themselves will continue to exist, but the processing itself will take place in a closed unit (black box) that automatically sends the processed data back to both platforms. A number of predetermined control steps take place during the process to ensure the correctness of the data and processing. A regular check of the conformity of the process took place in cooperation with the competent authority.
By bringing together the data from both platforms, both the price fluctuations from the purchase side (buyers in Belgium, such as retail and meat processing) and the production side (suppliers in Belgium, such as cutting plants) are taken into account, which benefits the representativeness of the mechanism. The users can then consult the processed results on Tuesday after 2 pm on their trusted platforms.
This step ensures that the publications in both platforms now serve as the reference for price fluctuations for Belgian pork. Both parties are convinced of the added value of this step in terms of transparency.
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