Glossary

Rice which has been processed to include 5% of broken grains.

Rice which has been processed to include 25% of broken grains.

Rice which has been snapped or broken in the milling process.

A range of rice which contains natural chemicals that give it a flavour and aroma similar to that of roasted nuts or popcorn. Can be rice of any size. Basmati and Jasmine rice are two of the most prominent examples of aromatic rice.

The small milled fragments of rice kernels that have been separated from the larger kernels of milled rice. It was formerly used almost exclusively in brewing but is now used in other fermented products and in pet food.

Grains which have snapped or chipped during the milling process. Also known as brokens and 100% broken rice.

A rice grain that has had its husk removed. It is more nutritious than white rice because it still contains the bran layer and germ. Also known as husked or hulled rice, partly-milled rice, cargo rice, or loonzain rice.

See brown rice.

Refers to the colour of the rice kernel. Chalky rice has a more opaque white colour than normal white rice. Kernels that have high levels of chalkiness tend to break more easily during the milling process and are unpopular with consumers due to poor taste and appearance. Rice tends to be chalkier when it matures during very hot weather.

A term used for parboiled rice.

White rice that is covered with an enrichment coating to replace the nutrients lost during milling.

Long grain rice with a delicate aroma primarily cooked as white rice and of a premium grade. Grown in South East Asia, with varieties including Hom Mali rice and Parthumthani rice.

A nutritionally superior method of preparing brown rice. Washed brown rice is soaked for 20 hours in warm water prior to cooking. Soaking stimulates germination, which activates enzymes in the rice and delivers a more complete amino acid profile.

A type of rice which is especially sticky when cooked as it only contains a very small amount of amylose (starch). Also known as pearl rice, mocha rice and waxy rice.

Rice that has been genetically modified to possess certain beneficial characteristics such as increased grain size, nutritional profile, rate of growth and resistance to pests, herbicides and flooding.

Rice originating in Japan that undergoes a special milling process that preserves the nutritious germ. It is easier to digest than brown rice and is just as flavourful as white rice and is therefore a good compromise between the two.

Unbroken grains of milled rice with the hull, bran and germ removed.

See brown rice.

See brown rice.

Rice produced by cross-breeding two different types of rice. Typically displays heterosis (enhanced characteristics) so that when it is grown under the same conditions as other varieties it can produce up to 30% increase in field yields.

A term used for long grain varieties of rice. These grains are typically light and fluffy when cooked. It is usually grown in hot climates near the equator.

Japonica rice from Japan.

A term used for short and medium grain varieties of rice that are characterised by their sticky nature. It grows in temperate and mountainous regions such as Japan and Korea.

Almost 50% of the bran is removed unlike brown rice where none of the bran layer is removed. It was created to provide a faster cooking time and still has more fibre than white rice.

Long and slender rice that is about four or five times as long as it is wide and with a grain length in excess of 6.0mm.

Thai brown rice.

Rice with a grain length between 5.2 and 6.0mm. It is typically shorter and plumper than long grain rice.

Rice which has had its husk, bran layer, and germ removed. This process turns rice a white/yellow colour and makes it softer when cooked. It is sometimes polished or oiled. the term is used interchangeably with white rice.

See glutinous rice.

a rice grain that has not been milled. It still has its husk intact which protects the inner kernel. Also known as rough rice (in the US), unhusked rice, or palay (in the Philippines).

Philippine term for paddy rice.

Rice which has gone through the parboiling process where paddy rice is soaked, pressure-steamed and dried whilst still in the hull. During the process, the kernel’s moisture level is kept below 40% which drives nutrients from the bran into the grain and therefore gives the rice a high nutritional value.

See brown rice.

See glutinous rice.

See pressed rice.

A gourmet rice grown in Louisiana, US. It is said to have the flavour of fresh popcorn while it cooks.

An Indian speciality. The grain is pressed to make rice flakes. Beforehand, the grains have to be soaked in water for eight hours and then roasted. Also called Poha rice.

US term for paddy rice.

Rice that comes from the Japonica variety with a grain length of less than 5.2mm and a length-width ratio of less than 2mm. The grain has a greater capacity for absorbing aromas and flavours than the Indica variety and its texture once cooked is soft, smooth and moist. Also known as short grain rice.

An Indian term for parboiled rice.

Rice which has been milled to remove the husk, part of the germ and the whole or part of the outer layers of the pericarp but not the inner layers.

Rice with a grain length of less than 5.2mm and a length-width ratio of less than 2. The grains tend to stick together when cooked. Also known as round grain rice.

Often abbreviated ‘STX’, it refers to rice that has been passed through a sortexing machine, which analyses the colour of the rice grains and discards any off-colour pieces. The resulting rice is cleaner and has a more consistent colour.

See glutinous rice.

An Italian term for extra-fine rice.

See paddy rice.

See glutinous rice.

Rice which has been milled and polished to remove the husk, bran and germ. see milled rice.

Rice without its husk but with the bran, germ and endosperm intact. Also known as brown rice.

A high-end Japanese short grain variety similar to Koshihikari but slightly less sticky.

A short grain Japonica rice which is traditionally grown in Italy. It has a pearly white exterior and a high starch content which gives it a creamy texture when cooked.

A short grain rice grown in Italy and Turkey. It is a hybrid of Arborio and Stirpe 136 which causes the rice to have stickier grains and a faster cooking time. It is classified as superfino.

An Italian rice also known as originario (common rice) because it was the only rice grown in Italy up to the 1900s. It is a round grain variety which tends to soften quickly.

Short grain white rice that has been treated with the juice of young bamboo plants during milling. As a consequence, this rice is high in vitamin B and has a distinct flavour and aroma, similar to that of green tea. When cooked, it is pale green and tends to be quite moist, causing the grains to stick together.

A long grain variety that is aromatic and slender. When cooked it only swells lengthwise, resulting in long slim grains which are very dry and light. It is grown in the Punjab region of India and Pakistan. It is popular internationally for its length, nutty flavour and distinctive aroma and tends to be an expensive variety.

This chewy short grain rice is grown 2,400 metres up in the Himalayan Mountains. Its crops grown using water from a 1,000-year-old glacier which provides a nutty/earthy flavour. It has only its hull removed in processing, retaining its bran and germ and is rich in nutrients. Very little is grown and what is produced mostly stays in Bhutan and is therefore not widely available for export.

A range of rice which incorporates both glutinous and non-glutinous varieties and which is left semi-milled to keep its black-coloured bran. It is only grown in small amounts but is increasingly popular especially in the US and European markets thanks to its high nutritional value. Also known as Forbidden rice.

This aromatic variety is barely milled to retain its dark bran layers. It takes around 45 minutes to cook the grains, which are chewy and have a slight sweet spiciness. It was developed by the California-based Lundberg Family Farms and is a combination of Asian black short grain rice and a medium grain mahogany rice grown together in the same field.

A long grain rice variety which originates from Texas, US.

A Spanish rice which expands in width rather than in length.

A brand of Calrose rice.

A short grain rice that is grown in Spain and is the principal rice used in paella. Its longer growing cycle produces kernels that are exceptionally dehydrated and it therefore absorbs liquids easily.

A medium grain rice developed in California. Its cooked grains are soft, moist and sticky and absorb flavour well. Used in sushi in the US and Europe.

Cultivated in southern France, this short grain, un-milled rice has a nutty flavour and is more nutritional than white rice.

This non-fragrant long grain rice absorbs more water after cooking than Jasmine rice whilst retaining almost the same level of tenderness and taste. It is considered to be a premium rice and is especially popular with restaurants and hotels. It is grown in the wet season (April to November) and is harvested once a year.

A milled rice which has been coated in a highly absorbent film of oil. Used in paella.

A medium grain variety grown in Italy. The grains, once cooked, are al dente (tender on the outside but firm within) and have a creamy texture. It is premium grade superfino rice with a high starch content. It is one of the most prized Italian rice varieties for its white kernel, uniform starch release and firmness.

This Uruguayan long grain variety has a thin kernel and remains loose and dry after cooking whilst retaining a smooth texture.

a long grain variety of fragrant rice grown primarily in the north-east of Thailand with an aroma similar to that of the padanus plant. In early 2013, the E.U. awarded Hom Mali rice protected Geographical Indication status, preventing rice varieties from outside of the Thung Kula Ronghai region on north-east Thailand from using its name.

A basmati variety famous for its very long grain length of more than 8mm. It has a fragrant aroma, is non-sticky after cooking and has a bright colour.

A fast-maturing rice with a slender grain size. It has an average length of 6.1mm.

A non-fragrant rice, with long white grains.

This hybrid basmati is popular for its rare flavour and aroma. The grain elongates when cooked and is non-sticky and soft to eat.

A long grain South American rice which remains loose and dry after cooking.

A white rice that has been parboiled and dehydrated to enable a faster cooking time. It is more expensive but less flavourful than normal rice. Also known as Minute rice.

A semi-dwarf variety developed by the International Rice Research Institute (IRRI) as a better-milling version of IR 8 with a lower amylose content. It matures within 105 days and has enabled many regions to move to cultivating two crops a year.

A hybrid long grain rice grown in the US, that is a blend of Jasmine and Basmati varieties created in the early 1990s. It is marketed as having the softness of a Basmati and the aroma of Jasmine.

This long grain, fragrant rice has an aroma similar to the padanus plant and is among the world’s most popular rice varieties.

Originally from Java, Indonesia, it is a medium grain rice known for its low-tilling and tall plant. Initially, it was defined at a separate variety to Japonica although it is now classed as part of the genus.

This variety from India’s West Bengal has a very similar size to cumin seeds.

This small aromatic premium rice is grown in Bangladesh. It has a fast cooking time and is commonly used in rice puddings. Also called Kalo Nunia.

See Kalijira rice.

An aromatic long grain rice developed in Texas, US. It is a hybrid variety. Like Basmati rice, Kasmati rice is long grain, has a fluffy texture upon cooking and a mild flavour.

A premium short grain rice which has a distinctive aroma and a sweet flavour. It is highly susceptible to blast disease and its stem collapses easily.

A short grain, irrigated rice grown in the Madhya Pradesh region in India.

A short grain Japonica rice from Kerala, India. Also called Rose Matta rice.

An Italian medium grain rice with a high starch content.

This long grain rice from India’s West Bengal region is commonly parboiled and is considered a premium variety for its pleasant aroma.

See Instant rice.

See Balilla rice.

A long grain Basmati that was once popular but is no longer grown in Pakistan.

A premium long grain non-basmati rice grown in the province of Punjab with an average grain length of 6.8mm.

A long grain Basmati variety which has a strong and distinctive aroma.

A long grain non-basmati rice with an average grain length of 5.7 - 6.8mm and an average width of 1.9mm.

A long grain rice with an average grain length of 6.5 - 7mm and an average width of 1.7mm. It is often parboiled to improve its nutritional profile.

A premium grade Basmati rice known for its distinctive nutty aroma and its long grain length of 7 - 7.2mm which doubles when cooked.

Also known as Patna rice after the city in India around which it is predominantly grown, this rice variety is closely related to Basmati but has a more subtle aroma. It is long grained, fluffy and does not stick together. It is considered premium grade rice.

A high quality long grain variety known for its nutritional value, natural aroma and dry texture. Has a grain length of at least 6mm.

See Parmal rice.

This Thai fragrant rice is very similar in appearance, fragrance and texture to Hom Mali rice although it has a shorter grain length. It was developed in the Pathumthani rice institute.

A unique fragrant rice from Myanmar which can double or even triple its length during cooking.

Cambodian wet-season fragrant variety. After processing, the rice has a long, glossy grain with a distinctive fragrance.

Medium grain Persian rice traditionally served at Iranian weddings. Also known as Shahi rice.

A long grain, non-basmati rice which resembles Basmati in that its grains are fairly long and full. Typical grain length is between 5.8 and 6mm.

An Indian genetically modified hybrid rice with most of the good features of traditional Basmati rice. Field yield is up to twice as high as traditional varieties.

An Italian rice with relatively long and large grains which remain firm when cooked.

A medium grain hybrid of Forbidden rice that has a naturally black pericarp. It has been adapted for Europe’s cold winters and is grown in Italy.

A hybrid Italian rice made from the Balilla and Razza 77 varieties. It is pearled rice with a big grain and contains lots of starch.

See Kuthari rice.

A Thai glutinous rice with distinctively long and white grains. Has a superior quality of softness and therefore stays softer than other kinds of glutinous rice.

Medium grain rice variety from India’s West Bengal region.

A Cambodian fragrant long grain rice. It has a smooth aroma and soft texture.

A Cambodian fragrant long grain rice very similar to Sen Kra Ob.

A sushi rice of the Japonica variety. It has small, round grains.

Medium grain Persian rice traditionally served at Iranian weddings. Also known as Polow rice.

A long grain, non-basmati variety grown in India. It is often used as a Basmati alternative and is popular for its price, nutritional content and quality when cooked. Grain sizes range from 6.5mm to 6.95mm.

A hybrid of Lady Wright and Chinese Ostiglia, combining the standing capacity and transparent grain of the former with the lack of shredding of the latter.

A long grain fragrant rice derived from Pusa Basmati 1 and Haryana Basmati 1, developed in India to provide competition to Thai Jasmine rice. It is a premium grade rice with similar qualities to Pusa Basmati, although it matures quicker, has a stronger aroma and less chalkiness in the grain. It can be distinguished by its distinct white colour and is typically 7.6 – 7.8mm in grain length.

An Indian medium grain rice sold in both raw and parboiled form.

The flood tolerant version of Swarna rice grown in East India. It was developed by scientists from the International Rice Research Institute. It has a lighter husk colour than Swarna rice.

A long grain variety from Uruguay.

A US brand of aromatic rice typically grown in Texas. Combines the characteristics of Indian Basmati and American long grain rice resulting in rice with a popcorn-like aroma and a distinctive nutty taste.

Rice with a sweet, nutty taste.

Also known as Red Jasmine rice, this long grain variety only has the husks removed but is rich in antioxidants which give it a reddish colour.

A premium fragrant rice variety specifically designed for Australia’s drought-prone climate. Given to farmers in New South Wales for the first time in 2014.

See Japonica rice.

An aromatic long grain rice of Asian origin, now grown in the Americas.

long grain rice that is available in milled white, brown and parboiled form. The grain is almost 3x longer than it is wide and is light and fluffy when cooked.

An Egyptian medium grain rice.

An Egyptian short grain rice.

A short grain Spanish rice traditionally used to make paella. It is different to other short grain varieties because it absorbs moisture without breaking down.

An Italian medium grain rice which is rich in starch. It was created in the 1930s as a dwarf hybrid of the old Vialone rice variety.

A serious threat to rice production. It competes with cultivated rice but has a much lower yield as it matures early and its grain shatters very easily. Considered a weed, if it is found in harvested crop, the crop’s market value will be lower. Once paddy fields are infected it is very difficult to remove as there is no known herbicide that will both kill the weedy rice and not harm the cultivated rice.

A tall aquatic grass grown in North America and therefore not a rice. It has a grain that is at least 2x the length of Asian long grain varieties.

American measurement of area. 1 ha. = 2.47 ac.

Thai currency.

Panamanian currency.

American measurement of weight. 1 MT = 13.6054bbl.

Venezuelan currency.

American measurement of weight. 1 MT = 48.9956 bu.

Ghanaian currency.

American measurement of weight. 1 MT = 22.0462 cwt. Also known as Hundredweight.

A unit equal to 10 million.

Name of the currency in, Australia, Guyana, Liberia, Singapore and the US.

Vietnamese currency.

Eurozone currency.

Egyptian measurement of area. 1 ha. = 2.38 feddans.

Swiss currency.

Paraguayan currency.

Standard measurement of area used by the Live Rice Index. 2.47 acres = 1 hectare.

See centrum weight.

Myanmar currency.

Measurement of area. 1 Lakh hectare = 100,000 hectares

Measurement of weight. 1 Lakh ton = 100,000 MTS.

Metric tons

Nigerian currency

Peruvian currency.

A South American measurement of weight. 1 MTS = 10 ql.

Name of the currency in Argentina, Chile, Colombia, Cuba, Mexico, the Philippines and Uruguay.

Per metric ton

Name of the currency in Egypt and the United Kingdom.

Thai measurement of area. 1 ha. = 6.25 rai.

Brazilian currency.

Iranian currency.

Cambodian currency.

Russian currency.

The name of the currency in India, Nepal, Pakistan and Sri Lanka.

Indonesian currency.

Bangladeshi currency.

The name of the currency in North and South Korean.

Japanese currency.

Chinese currency.

Widely regarded as Spain’s national food, paella has its origin in Valencia. Can be made with meat, seafood, vegetables or a combination of the three.

Any kind of food item made from rice that has been shaped, condensed or otherwise combined into a single object. Particularly prevalent in Asia.

A dish made from rice mixed with water or milk and other ingredients such as cinnamon and raisins. Different variants are used for either desserts or dinners. When used as a dessert it is commonly combined with a sweetener.

A potent alcoholic drink using fermented rice. It is around 30% proof (compared to 15% proof for grape wine) and is a common drink in much of Asia.

A class of Italian rice dishes cooked in a meat, fish or vegetable based broth that has a creamy texture. It is made using a medium, short or round grain white rice, e.g. Arborio, Baldo, Carnaroli, Maratelli, Roma and Vialone Nano.

A Japanese rice wine.

A popular Japanese dish using short or medium grain rice which sticks together, mixed with rice vinegar, sugar, salt and fish/meat.

Layer that provides extra protection for the inner parts of the kernel. A good source of vitamins and minerals.

The reproductive part that germinates to create a plant. Also termed the germ.

The tissue produced inside the seeds that surrounds the embryo and provides nutrition in the form of starch.

The reproductive part that germinates to create a plant. Also termed the embryo.

Hard, outer, inedible part of the grain. It can be used as fuel or building materials, in insulation or turned into mulch, abrasives and animal feed. Also known as the husk.

Hard outer inedible part of the grain. It can be used as fuel or building materials, in insulation or turned into mulch, abrasives and animal feed. Also known as the hull.

The name for the individual, pre-milled grain carried on the rice plant. Each plant will carry hundreds or thousands of kernels ranging from approximately 6 - 10mm long.

Part of the bran layer beneath the hull containing pigment. Present in brown rice.

An embryonic plant.

The idea of breeding crops to increase their nutritional value. This can be done either through conventional selective breeding or through genetic engineering. It focuses on making plant foods more nutritious as plants are growing. It is seen as an upcoming strategy for dealing with deficiencies in micronutrients in the developing world.

Caused by the fungus Magnaporthe oryzae it can affect all above ground parts of the rice plant. It occurs in areas with low soil moisture, frequent and prolonged periods of rain showers and cool temperatures in the daytime. An infection can kill seedlings or plants up to the tillering stage and later in can reduce the leaf area for grain fill reducing field yield.

An extended period when a region receives a deficiency in its water supply.

from leaving it on the side of the road in the sun to mechanical systems using heated air.

The total volume of crop harvested from the field. This includes the rice husks which are removed during the milling process.

Occurs when land which is not usually submerged receives an overflowing of water. Rice will die when completely submerged for more than 3 days, so flooding can cause a complete crop loss. However, in years following floods, harvests tend to produce bumper crops as land fertility increases.

When the starch in rice is mixed with water and heated. This irreversibly dissolves the starch granule.

When the rice plant develops. It is the growing period between planting and harvesting.

A structure used to store rice in Asia. The rice is commonly stored in 40 - 80kg bags made of plastic or jute, which are then stacked on top of one another.

The process of gathering matured crops from the field. To harvest paddy, a farmer will cut down the stem (also known as reaping), separate the grain from the stem (threshing), clean the paddy (winnowing) and take it to a mill for further processing. Harvesting of rice is done in a variety of ways around the world, from using a traditional sickle or knife to the use of high-tech combine harvesters.

Chemicals used to kill unwanted plants.

The systematic application of water to land in order to grow crops. Rice is a semi-aquatic crop which requires flooded conditions. Insufficient water can lead to water stress on rice which limits both field yields and milling yields.

Often occurs in river delta and coastal areas and supplies around 20% of the world’s total rice. Drought, flooding and salinity are common causes of stress in these areas.

The process of removing the husk and bran layers, leaving just the white rice kernel. Most varieties of rice grains are composed of roughly 20% husk and 11% bran, leaving 69% of starchy endosperm after the milling process. Traditionally, milling was done by hand, but modern mills use state of the art machines to process more than 10 MTS of paddy per hour.

The total volume of unbroken white rice kernels produced during the milling process. Milling yields tend to be around 60 - 70% of the field yield.

Rice that is grown and harvested in the current season and will always be labelled as such. It has not dried out as much as older rice and therefore has a more delicate flavour and requires less water for cooking.

A flooded section of arable land used for growing semi-aquatic rice. The most widespread method of growing rice and very water intensive.

Cooking rice in water in a sealed vessel which does not permit air or liquids to escape below a pre-set pressure.

Rice which is grown using rain water. Split into upland rainfed and lowland rainfed production.

Saline water contains high levels of salt, which can have an adverse impact on rice production.

The process of placing seed into the earth. This is often done in nursery beds, before the seed is subsequently transplanted to the paddy field. Sometimes, such as in the US, seeding is performed by specialist aeroplanes.

A structure (usually a tall tower or pit made from metal or concrete) used for the bulk storage of rice. It can range in capacity from 20 MTS to 2,000 MTS and are often used by large mills. It is easier to seal for fumigation compared to more traditional forms of storage and can be air-conditioned.

A payment made by governments to support their farmers.

The process of transferring a rice seedling from a nursery into a paddy field, usually between 15 and 30 days after planting. This is done to give the crop a head start over weeds and allows for intensive farming as the rice is in the field for less time. Although machines can do this, in many parts of the world transplanting is still done by hand which takes an estimated 30 days per hectare per person.

Only around 4% of total rice grown in the world uses this method of production. Grown in altitudes of up to 2,000 meters it is known for having poor yields due to the constraints of growing at altitude, generally poor soil and relying on rainfall.

A person who facilitates transactions between buyers and sellers, earning a commission on completed deals.

1 January – 31 December.

The incoterm used when transportation and insurance costs are covered by the seller up to the destination port, but the risk is transferred to the buyer once the goods have been loaded onto a carrier, such as a truck.

See spot market.

The incoterm used when the seller covers the transportation costs up to the destination port, including the cost of loading at the departure port. The seller does not cover the insurance costs once the goods have completed loading onto the ship. Formerly known as CNF.

Import quotas from a specific country.

If an exporter has agreed to ship a volume of rice at a specific point in the future, but does not currently own that rice, they do not have the shipment ‘covered’. They will need to purchase rice from the market in order to cover their shipment.

Trade which takes place across a land border between two countries.

An incoterm used when the seller is responsible for delivering and unloading the rice at a given place.

An incoterm used when the seller is responsible for delivering the rice at a named terminal at the place of destination.

If rice is sold at a discount, it is sold at a lower price.

An incoterm used when the buyer covers the transportation costs from the point of departure (such as a mill) to the point of destination (such as a warehouse). Also known as Ex-works.

An incoterm used when the buyer covers the transportation costs from the point of departure (such as a mill) to the point of destination (such as a warehouse). Also known as Ex-spout.

The incoterm used when the seller covers the transportation costs of the goods up to the port but does not cover the cost of loading the goods onto the ship.

The incoterm used when the seller covers the transportation costs up to and including loading on to the ship at the port. FOB is the standard incoterm used for Live Rice Index price assessments.

When the shipper is responsible for the cost of loading goods onto a vessel for the international shipping overseas.

When the buyer is responsible for the unloading costs at the destination port.

The maximum capacity a 20ft shipping container is able to hold. For rice, a single shipping container can hold up to 25 MTS.

When rice is sold at a set price to avoid market fluctuations. future contracts can be traded many times before the delivery date.

A market where the trade is made for delivery at a specified point in the future. Sometimes called paper markets.

Making an investment to reduce the risk of adverse price movements in an asset. Normally a hedge consists of taking an offsetting position in a related security, such as a futures contract.

A market where there are only a few exporters of rice.

A series of defined terms used in international trade to provide clarity for the transportation and delivery costs of goods.

When the seller covers the loading and unloading costs at the departure port and the destination port.

If you have a position with an expectation that the value of your asset will increase, you are said to be ‘long’.

When a crop is harvested, its marketing year is the 12 months until the crop is harvested again.

If a country joins the WTO without relaxing import restrictions they are obliged to import a minimum volume of rice.

At the Uruguay round of WTO talks in 1995, South Korea, Japan and the Philippines were required to implement a set volume of imports which could be imported at a lower Tariff Rate Quota. MAVs are also known as ‘in-quota tariffs’. Any volumes of rice imported beyond the MAV are taxed at a much higher rate known as ‘out-quota tariffs’.

A form of status that gives a country a privileged position in bilateral trade with the country that had conferred the status upon them. This would usually mean lowered tariffs and import restrictions. It is usually, but not always, reciprocal.

An interest in buying rice from a foreign country that does not share a border.

A tender that is non-SBS but is Minimum Access.

See futures market.

See spot market.

The level of stock owned by a trader. The Live Rice Index and those who work there do not hold any position in the rice market.

If rice is being sold at a premium it is sold at a higher price. A premium rice variety has superior cooking qualities, such as fragrance and a longer grain.

If you have a position with the expectation that the value of your asset will decrease, you are said to be ‘short’.

Tenders that are used by State Purchasing Agencies to buy rice for their domestic retailers.

A market where the trade is made for immediate shipment and settled at current market prices. Sometimes called cash markets or physical markets.

Government agencies which conduct tenders and purchase rice on behalf of their government.

A worker that loads and unloads ships at docks.

A tax on imports used as a measure to protect domestic industries and to raise revenue for governments.

When volumes inside a quota are charged at lower tariffs than volumes outside a quota.

A formal, structured invitation to suppliers to bid to supply products or services.

The Malaysian State Trading Enterprise.

Indonesia’s State Trading Enterprise.

China’s State Trading Enterprise.

Brazil’s State Trading Enterprise.

A reporting company based in England who owns the Live Rice Index.

An agency of the United Nations that leads international efforts to defeat hunger. It is a source of knowledge and information and helps developing countries and countries in transition modernise and improve agriculture practices.

All parties to the Grains Trade Convention (GTC). It holds two regular sessions a year. It oversees the implementation of the GTC, discusses current and prospective world grain market developments and monitors changes to national grain policies. Its definition of grains extended to rice with effect from 1 July 2009.

An independent research and training organisation established in 1960 to develop new rice varieties and rice crop management techniques.

The principal Iraqi State Trading Enterprise.

A market reporting service for rice.

Japan’s State Trading Enterprise.

The Philippine State Trading Enterprise.

India’s State Trading Enterprise.

The US federal department responsible for developing and executing federal government policy on farming, agriculture, forestry and food.