- LRI Says
- South America
- Other Countries
Our aim is to provide accurate information and robust price assessments, which assist market participants in making sound business and trading decisions, whilst enabling the world’s rice markets to operate with greater transparency and efficiency. In doing so, we hope to equip rice market participants with the tools that they need to better manage their exposure to risk.
During the "2008 Rice Price Crisis", exceptionally high rice prices and extreme price volatility caught the attention of rice industry participants and policy?makers worldwide. As the scrutiny of commodity markets increases, transparency and integrity take on heightened importance as the LRI strives to enhance market confidence and efficiency.
The LRI’s role is to observe and report on the world’s rice markets, whilst developing increasingly accurate methods for accessing and evaluating rice price information. To build confidence in the rice price assessment process, we aim to make our price assessments and methodology as transparent and robust as possible.
Transparency enables rice market participants to identify the true market value of a given rice variety and understand the market forces behind price movements.
For the LRI, "price integrity" relates to logical processes when performing price discovery as well as procedures which build confidence in the resulting assessments. The assessment of high quality data, using structured and considered methodologies should ensure increased price integrity and market confidence.
We follow a published methodology for each rice price assessment. These dynamic documents are subject to review and amended after thorough consultation with the trade. The LRI does not use any item of information in its rice price assessment process that is inconsistent with its methodology and quality guidelines.
We are not traders or brokers and we will never take a physical or paper position in any rice market. We are independent.
The LRI is a global provider of information on the rice industry and a leading source of benchmark price assessments for rice. Since 2011, the Live Rice Index has provided reliable information and market insights.
The LRI is a subscription-only service which provides differentiated tiers of access to livericeindex.com and the LRI Reports. Visit our why subscribe page for more information on LRI Subscription tiers and our services.
In this week's report: Cuban govt. purchases white rice from Argentina; Trading Corporation of Pakistan announce tender for 10,000 MTS of white rice and 5,000 MTS of Basmati; Indian forecasting service Skymet revise forecast for Southwest Monsoon to 109% of LPA.
20.5.2016 Thai Commerce Ministry sells 1.17 million MTS of old crop stocks in 19 May auction; New Philippines government announce intentions to ban private imports of rice; Myanmar exports in the 2016/17 FY forecast to reach 1.5 million MTS (milled).
13.5.2016: USDA forecast 2016/17 U.S. paddy production at 10.5 million MTS, up by 19% on last year; Nigeria's stocks of imported rice stand at 22,000 MTS as prices increase on the local market; Tanzanian paddy production forecast at 2.45 million MTS in 2016, up by 2.1% year-on-year.
6.5.2016: Argentine exporters agree sale of 15,000 MTS of 5% broken white rice to Colombia; Thai Commerce Ministry announce new auction for 1.2 million MTS of old crop stocks; Iranian milled rice imports forecast to increase to 1.6 million MTS in the 2015/16 MY.
29.5.16: Uruguayan harvest continues to be delayed by heavy rain; Nigerian 2016/17 MY imports forecast to fall by 16% to 2.1 million MTS; Russian milled rice production in 2016 estimated up by 5.7% to 721,000 MTS.
22.4.2016: Chinese rice stocks forecast to increase to record levels of 52.9 million MTS in the 2016/17 MY; 2015/16 MY production in West Africa forecast up by 17% to 5.98 million MTS; Concerns in India that production in eastern states will be reduced due to drought.