LRI provides rice price assessments, news and analysis for rice market participants such as buyers, sellers, brokers and traders
Image: S&P Global Platts has acquired price reporting agency Live Rice Index. Photo: courtesy of rawpixel from Pixabay.
S&P Global Platts has acquired Live Rice Index (LRI), which offers information and benchmark price assessments for the rice industry.
Established in 2011, LRI is a provider of rice price assessments, news and analysis for rice market participants such as buyers, sellers, brokers and traders in countries, comprising Argentina, Brazil, Egypt, India, Pakistan, Paraguay, Thailand, Uruguay, U.S.A. and Vietnam.
The acquisition of LRI will allow Platts to boost its portfolio
The acquisition of LRI will allow Platts to expand its portfolio of agricultural price assessments, as well as its data and news coverage in major export regions for international grains.
LRI, which is a major leading price reporting agency (PRA) in the global rice industry, provides a transparent and advanced methodology that is in line with complementary with Platts approach.
Platts will include LRI’s rice varieties and grade benchmarks to its suite of price assessments in grains and oilseeds.
LRI managing director Stephen Jones said: “We are excited to become part of S&P Global Platts. Together, we see significant opportunities to provide enhanced rice benchmark data and information services to our customers.
“Leveraging S&P Global Platts reputation, global footprint as well as its market-leading benchmark capabilities will create an even more compelling offering for our combined customer base.”
The addition of LRI expands Platts agriculture coverage beyond grains, oilseeds, vegetable oils, animal feed and protein, sugar and biofuelsm.
Last year, Platts has introduced a range of new daily physical price assessments in global soybeans, Argentinean and Brazilian corn, Black Sea sunflower oil and an Asian palm oil complex.
S&P Global Platts president Martin Fraenkel said: “Rice is the most important grain for human consumption worldwide, directly feeding more people than any other crop.
“This is an exciting time for S&P Global Platts to bring increased transparency to the global rice market, which is forecast to grow strongly over the next 30 years underpinned by robust production and consumption fundamentals.”