About Live Rice Index
The LRI vision and principles:
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 worlds 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 LRIs role is to observe and report on the worlds 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.
What does the LRI do?
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 April 2008, in what is now known as the "2008 Rice Price Crisis", nominal export prices of rice increased rapidly to unprecedented levels (FAO).
Short-term supply and demand shocks partially explain the initial price increases. Further drivers of price came in the form of export restrictions from India and Vietnam and large purchases by the Philippines and Iran and Nigeria. However, the market fundamentals did not suggest that such a price increase was justified. By late May, in the same year, prices began to decline.
This has led many economists to assert that the main driver of prices and price volatility at that time was uneven and poor-quality market information. If information was more accurate and widely disseminated, then the price shocks during the "2008 Rice Price Crisis" could have been less extreme. The Live Rice Index was launched to help make the rice industry a more visible market.
- Live Rice Index is born!
- LRI launches the LRI Weekly Report and LRI Weekly Price Assessments.
- Bitesize Rice News added to LRI Weekly Report.
- Our first website launches: www.livericeindex.com (V.1.0)
- LRI Says, our breaking news service, is launched.
- www.livericeindex.com provides enhanced resources for our readers. (V.1.1)
- LRI launches Cambodian white and fragrant rice weekly price assessments.
- LRI launches Vietnamese KDM fragrant rice weekly price assessments.
- LRI Monthly Report launched, providing a monthly overview of the rice industry.
- 1st LRI Feature published; Where next for Thailands rice scheme?
- LRI launches Indian 100% Broken white daily rice price assessments.
- LRI Daily Report launched providing daily LRI Price Assessments and news.
- LRI Timeline is launched.
- Responsive website launched; access www.livericeindex.com on all your devices. (V.2.0)
- LRI presents on Risk in Rice and the Long Grain Market Overview at the UK Rice Symposium, London.
- LRI expands Japonica coverage to include a weekly update on the European market.
- LRI presents on The global rice market: prospects and challenges at the European Rice Convention, Dubrovnik 2015.
- LRI feature in Dukascopys Commodity Corner (www.dukascopy.com) offering commentary on issues facing the rice market.
- The LRIs Managing Director, Stephen Jones, serves as a rice market expert in two industry disputes.
- LRI presents at FERM Board meeting in Richmond, London.
- LRI Store launched.
- LRI Special Report on the Basmati market released.
- LRI features in Dukascopys Commodity Corner (www.dukascopy.com) offering commentary on issues facing the rice market.
- The LRI Wire is launched, creating a single place to easily access all LRI content.
- LRI launches its first Technical Reports, including price forecasts for the Pakistani and Thai markets.
- LRI Volatility Index created to map the volatility of rice prices.
- LRI launches updated Methodology documents to include full specifications.
- LRI launches Fundamental Reports on bullish and bearish factors in the market.
- LRI gives a keynote speech at the UK Rice Symposium.
- LRI Special Report on the Medium Grain market released.
- LRI launches new Pakistani Super Kernel Brown Basmati weekly price assessments.
- LRI provides a market update to the International Grains Council's Market Conditions Committee.
- LRI launches Thai 100% Grade B daily price assessments.
- LRI launches Myanmar white and parboiled rice weekly price assessments.
- LRI launches Italian Indica and Arborio rice weekly price assessments.
- LRI Price Assessment data history available to download into a csv file.
- LRI includes definitions in the LRI Methodology documents.
- LRI launches Paraguayan white rice weekly price assessments.
- LRI launches Pakistani 1121 Basmati weekly price assessments.
- New website Update www.livericeindex.com (V.3.0)
- New Report a Trade module launched to enable subscribers to anonymously submit transactional data for inclusion in LRI Price Assessments.