Japan Customs-Cleared Crude (JCC)

By July 25, 2022No Comments

The Japan Customs-cleared Crude (JCC) is the average price of customs-cleared crude oil imports into Japan (formerly the average of the top twenty crude oils by volume) as reported in customs statistics; nicknamed the “Japanese Crude Cocktail”. It is a commonly used index in long term LNG contracts in Japan, Korea and Taiwan, and replaced the Government Selling Price of crude oil as the standard index. The data to calculate JCC is published by the Japanese government every month. This is the raw and crude oil import prices in yen per kilolitre, the dollar yen exchange rate and the total Japanese imports of all commodities for the month.