Agriculture, Rice

September 01, 2023

Platts updates methodology for Indian Basmati rice assessments to include APEDA registration, certification

Platts, part of S&P Global Commodity Insights, has updated the methodology for its Indian Basmati rice assessments to reflect Basmati sales registered and certified by the Agricultural & Processed Food Products Export Development Authority (APEDA), effective Sept. 1.

On Aug. 27, the Indian central government instructed APEDA, which is responsible for the regulation of Basmati rice exports, that it should only issue Registration cum Allocation Certificates (RCAC) for Basmati exports with a value of $,1200/mt and above.

As a result, this will affect the following assessments, and their related monthly averages, published under the symbols below.

Assessment name Assessment code
1509 Parboiled Basmati 2% LRCGP00
1509 Steam Basmati 2% LRCGS00
Pusa Steam Basmati 2% LRCJS00
Pusa Brown Basmati 2% LRCKG00
Pusa Parboiled Milled Basmati 2% LRCLG00
1121 Steam Basmati 2% LRCHS00
1121 Parboiled Milled Basmati 2% LRCNB00

Platts will continue to review the situation as it develops and publish any bids, offers, trades or indicative market values for these assessments.

Please send any questions and comments to MTRS_GrainsRiceOilseeds@spglobal.com and pricegroup@spglobal.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.