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

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

The new assessment will provide greater pricing transparency for growing exports of India 1718 Steam Basmati rice and complement Platts' existing rice assessments coverage.

The launch was first proposed on Sept. 21, in a subscriber note available here.

Following feedback received through Sept. 30, Platts has revised certain quality specifications from those proposed in the Sept. 21 subscriber note.

The assessment specifications will be as follows:

ASSESSMENT NAME: India 1718 Steam Milled Basmati Rice 2%, FOB FCL

FREQUENCY: Weekly, published every Friday. If a scheduled Friday publication day falls on a holiday in the Platts India publishing calendar, the assessment will be published on the prior working day.

TIMESTAMP: 4:30 pm IST

BASIS AND LOCATION: FOB Mundra, India, in 20-foot full container load (FCL)

VOLUME: 50-500 mt, plus/minus 5% at the seller's option

TIMING: Shipment 15-45 days after the publication date

UNIT: US dollars/mt

PAYMENT TERMS: Cash Against Documents

PACKING: New single white woven polypropylene bags, each containing 50 kg net shipped weight, with buyer's marks. Minimum tare weight of 110 g. An additional 2% empty bags to be supplied at the seller's cost.

QUALITY Details:

Average grain length before cooking: 8.30-8.40 mm
Minimum length-to-breadth ratio: 4.2
Maximum moisture content: 12%-12.5%
Maximum damaged kernels: 0.2%
Maximum chalky grain and black kernels: 0.1%
Maximum broken and fragments: 2%
Maximum foreign matter: 0.1%
Maximum other grains: 0.1%
Maximum other rice varieties: 5%
Maximum under-milled and red-striped grains: 2%
Maximum paddy grains: 0.1%
Minimum elongation ratio: 2.0
Milling degree: extra well milled, sortex.

Platts will also publish monthly averages for the assessment and will follow the Platts India publishing calendar.

The assessment will be launched Nov. 2, 2026. As the assessment is published weekly on Fridays, the first value will be published Nov. 6, 2026.

The assessment will consider market information reported to Platts and published as heards, including firm bids, offers, trades, indications and any other information deemed relevant to the assessment process up to the weekly market close at 4:30 pm IST (1100 GMT) each Friday. The assessment will reflect the prevailing market price at that time.

Further details of Platts global rice methodology are available in the Platts Global Grains and Oilseeds Specifications Guide.

Please send any comments, feedback, or questions to Platts_AgricultureandFood@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.