Platts proposes to launch India 1718 Steam Basmati rice price assessment Nov 2

Platts, part of S&P Global Energy, proposes to launch India 1718 Steam Basmati weekly rice price assessment, effective Nov. 2, 2026.

This is based on research and market feedback that the proposed assessment would provide greater pricing transparency to the growing trade flows of the 1718 basmati rice variety from India and complement Platts' existing rice price assessments coverage.

Assessment Description:

• India 1718 Steam Milled Basmati Rice 2%, FOB FCL (weekly)

The assessment would reflect the current specifications for Indian Basmati:

• Quantity: 50-500 mt plus/minus 5% at seller's option.
• Packing: In new single white woven polypropylene bags each of 50 kg net shipped weight, with buyer's marks. Minimum tare weight of 110 g. 2% empty bags to be loaded at the seller's cost.
• Basis and location: Net shipped weight FOB, load port Mundra, in 20' FCL.
• Timing: 15-45 days after publication date.
• Unit of measurement: US dollars per mt.
• Payment: Cash Against Documents.
• Frequency: Weekly (every Friday)
• Timestamp: 4:30 pm IST

Detailed quality specifications are as follows:

Average 8 mm pre-cook length; min 3.5 L/B ratio; max 12%-12.5% moisture content; max 0.5% damaged kernels; max 0.1% chalky grain and black kernels; max 2% broken and fragments; max 0.1% foreign matter; max 0.1% other grains; max 5% other rice varieties; max 2% under milled and red striped; max 0.1% paddy grains; min 1.5 elongation ratio; milling degree extra well milled, sortex.

The assessment would also be published as monthly averages and follow Platts India publishing calendar. The first published value must happen on Friday, Nov. 6.

The assessment would consider market information reported to Platts and published as heards, including firm bids and offers, trades, indicative values, and any other data deemed relevant to the assessment process until market close on Friday at 4:30 pm IST (1100 GMT), and would reflect the prevailing market value at the time of close.

Further details of Platts global rice coverage can be found in the Platts Global Grains and Oilseeds Specifications Guide.

Please send any comments, feedback, or questions to Platts_AgricultureandFood@spglobal.com by Sept. 30, 2026, copying 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.