Platts changes the timestamp for Americas rice assessments

Following feedback from the market, S&P Global Platts has changed the timestamp of its North and South American rice assessments from 23:59 London time on the day prior to the date of publication, to 16:30 London time on the day of publication, effective May 10, 2021.

This follows a decision note and clarification on time stamp change process.

After Platts acquisition of the Live Rice Index (LRI) in September 2019, the LRI has gradually transitioned to follow Platts price assessment methodology, including the publication of bids, offers and trades as a basis for assessments.

In order to ensure that this heard information can be received and tested in real time, Platts has amended the Americas rice assessments to a timestamp which falls within the trading days of both London and the basis locations for these assessments. This also allows the publication of the assessments on the date to which they are timestamped.

Platts now assess all 11 of its daily American rice assessments with a timestamp of 16:30 and publishes them on Platts Agricultural Alert on the same day. These daily prices will also appear in the following day's edition of Platts Rice Daily, but with validity for the previous working day.

The seven weekly American rice assessments will be timestamped to 16:30 London time on a Thursday. They would be published on Platts price database and on Platts Agricultural Alert on the day of assessment, rather than timestamped to 23:59 London time on a Thursday and published the following day as is done currently. These prices will continue to appear in Platts Rice Weekly, published on Friday.

This decision affects the following daily American rice prices:

Grade Assessment Volatility

Uruguayan 5% Broken LRJAB00 RVJAB00

Argentine 5% Broken LRKAB00 RVKAB00

Brazilian 5% Broken LRGAB00 RVGAB00

Brazilian 100% Broken LRGBC00 RVGBC00

Brazilian PB 5% STX LRGCB00 RVGCB00

Uruguayan PB 5% STX LRJCB00 RVJCB00

US #2, 4% Broken (FOB Bulk) LRIBH00 RVIBH00

US #2 Paddy, 55/70 Yield LRIFI00 RVIFI00

100% S. Pet Food Quality LRIHI00 RVIHI00

US #1, 4% Broken LRIIH00 RVIIH00

US #1 Paddy, 58/69 Yield LRIJI00 RVIJI00

It also affects the following weekly American rice prices:

Grade Assessment Volatility

US #2 4% Broken Hard Milled FOB Lake Charles LRIAH00 RVIAH00

US #3 15% Broken Hard Milled FOB bulk NOLA LRICD00 RVICD00

US #5 20% Broken Hard Milled FOB Lake Charles LRIDF00 RVIDF00

US #1 Parboiled Milled 4% Broken FOB bulk NOLA LRIEH00 RVIEH00

US Southern Flour Quality Broken ex-works LRIGI00 RVIGI00

Uruguay Olimar 5% Broken FOB FCL LRJBB00 RVJBB00

Paraguay 5% Broken FOB FCL LRLAB00 RVLAB00

These prices are published on Platts Agricultural Alert pages PAA601, PAA3000, PAA3003, PAA3005, PAA602, and PAA604.

As a result of this decision, the Platts May 7 US and South American daily rice price assessments still carried the 23:59 GMT/BST assessment deadline and were published on the relevant fixed pages on May 9, 2021. These prices then appeared in May 10's Rice Daily report.

The Platts May 10 US and South American daily rice price assessments will carry the new assessment deadline of 16:30 GMT/BST and will be published on the relevant fixed pages after that deadline on May 10. These prices will appear in May 11's Rice Daily Report.

From May 11, all Platts Americas rice price assessments will have an assessment deadline of 16:30. They will be published on the relevant fixed pages on the same day and in the Rice Daily Report on the subsequent working day.

Please send all comments, feedback and questions to ags@spglobal.com and pricegroup@spglobal.com.

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