Jan 09 2023
Platts, part of S&P Global Commodity Insights, has decided to launch a new daily assessment for Parboiled Rice 5% STX on a CFR West Africa basis, effective Feb. 20.
Platts proposed to launch a CFR West Africa parboiled rice assessment Dec. 14, 2022, available here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/121422-platts-proposes-to-launch-parboiled-rice-5-stx-cfr-west-africa-assessment
The assessment will be the first delivered rice assessment by a price reporting agency and results from the increasing need for transparent rice pricing information in destination markets. The assessment will reflect prices of parboiled rice that meet the required physical specifications, from any global origin.
Delivered prices to other West African ports may be considered in the assessment. Normalization for quality, dimensions, cargo size, packaging, payment terms will reflect current differentials applied in the market, and locational normalization may make use of freight netbacks and freight forwards.
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