Platts proposes to change process for crop transitions in rice assessments April 15

Platts, a division of S&P Global Commodity Insights, is proposing to change the process for assessing prices during crop transitions across its global rice coverage, effective April 15, 2024.

According to its existing methodology, when price information about a new crop is first obtained by Platts, a phase-in period is used during which the new crop price is given an increasing weighting in the assessment over a period of 10 days.

Further details can be found in Platts Global Rice Specifications Guide /content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/Global-Rice.pdf.

Under this proposal, Platts price assessments would consistently reflect the current rice crop. Platts would define current crop as the most recently harvested crop available for loading to meet the shipment period covered by the assessment window.

Any crop transitions required during this period of market feedback will continue to use the existing weighted average approach.

Please send any questions and comments to MRTS_AgricultureandFood@spglobal.com and pricegroup@spglobal.com by March 11.

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.