Expana has successfully completed an independent review of its proprietary food ingredient and agricultural commodity price assessment process for a fifth consecutive year.
The International Organization of Securities Commissions (IOSCO) is recognized as the global standard for PRAs, ensuring governance and integrity in the price assessment process while providing users with reliable benchmark prices.
To ensure robust adherence to IOSCO principles, Expana engaged an external auditor to review and report on its compliance to its stated methodology criteria and the requirements of the IOSCO PRA Principles. This review included a comprehensive evaluation of Expana’s documentation and proprietary pricing processes for assessing market prices for food ingredients and agricultural commodities.
The review encompassed 90 assessments for the company as a whole (including owned brands Mintec, Urner Barry and Feedinfo) across the agri-food supply chain. Expana achieved 66 Type 2 and 24 Type 1 assurances across its brands.
"Achieving our fifth IOSCO audit is a testament to Expana’s commitment to excellence in price reporting," said Spencer Wicks, Chief Executive Officer at Expana. "Our independent and rigorous assessment process continues to provide the agri-food industry with trusted benchmark pricing. With market dynamics evolving rapidly, we are committed to equipping businesses with the trusted pricing and insights they need to adapt, strategize, and drive growth in an increasingly complex landscape.”
