Feb 20 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 decided to launch a CFR West Africa parboiled rice assessment Jan. 9, following a period of consultation: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/010923-platts-to-launch-parboiled-rice-5-stx-cfr-west-africa-assessment
Platts first 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 is 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 reflects prices of parboiled rice that meet the required physical specifications, from any global origin.
Long Grain Parboiled Milled Rice 5% STX CFR West Africa
4:30 pm UK time
Unit of measurement
Arrival at disport
60-90 days from date of assessment
1,000-10,000 mt, normalized to 5,000 mt
50kg PP bags
Max. broken kernels
Min. average grain length
Max. red/red streaked
Max. black/black tip
Max. foreign matter
Min. Milling degree
Well milled, STX quality
All other specifications and clauses should be as per market practice.
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.
Please send all comments, feedback and questions to firstname.lastname@example.org and email@example.com.
For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.
Platts will consider all comments received and will make comments not marked as confidential available upon request.