Quoted price of the commodity A as of X (date or period) = B/C, where:
B is the total value of exchange transactions for the commodity A made during the X period (in the context of all relevant commodity specifications). If the value of a given transaction is VAT-exclusive as per the terms of the respective transaction, it must be adjusted for VAT for the calculation of the quoted price.
C is the quantity of the commodity A sold on the exchange during the X period (in the context of all relevant commodity specifications).
Example of the calculation of the quoted price:
1. 100 m3 of a commodity sold on Oct 10, 2023:
URB-TIUTD-WDROU/Round timber
Commodity specifications:
o - assortment: shRound timber
o - species: pine
o - grade: C
o - diameter: D3b (35-39 cm)
2. Number of exchange transactions for the commodity made on Oct 10, 2023 (VAT-inclusive price): 2 transactions for an aggregate value of UAH 100 000.00
Number of exchange transactions for the commodity made on Oct 10, 2023 (VAT-exclusive price): 1 transaction for a value of UAH 20 000.00
3. Value adjustment for VAT: 20 000.00 x 1.2 = 24 000.00
4. Calculation of the total value of the transactions: 100 000.00 + 24 000.00 = 124 000.00
5. Calculation of the quoted price of the commodity as of Oct 10, 2023: 124 000 / 100 m3 = UAH 1240,00
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