Rice Exchange is a global digital marketplace.
Our blockchain platform brings trust, reduces risk and lowers costs for buyers, sellers and partners.
Our Users Enjoy
● Active public exchange with private negotiation
● Range of bids and offers for comparison
●Obtain real time quotes from service providers and book their services on line.
● Set individual permissions for multiple users.
● Secure settlement — all information is verified
● Avoid manipulation and fraud with the Document matching tool
● Data is controlled by users and stored securely
● Smart post trade integration
● Bespoke modular technology stack from Fujitsu
● Immutable audit trail with trade history
The Market for Rice
Each year 760 million tons of paddy rice are produced equivalent to 488 million tons of milled rice. On average every human on earth consumes 54kg of milled rice per annum.
48 million tons of milled rice are traded internationally each year, representing 5-fold growth over the last 30 years.
Most internationally traded rice is destined for regions of the world which are not traditionally producers but have developed a taste for rice. The main exporters — India, Thailand, Vietnam, Pakistan and South America are all represented on our platform.
Unlike other major grain crops, rice has a wide variety of types and finishes, which makes pricing less homogeneous. Given these intricacies, rice trading has traditionally been – and still is – dominated by a small group of individuals with little transparency.
Growth in international trade of milled rice*
Problems rice market participants currently face that
the Rice Exchange can solve
Documents need to be checked and matched manually which is not only expensive but increases the risk of costly human mistakes.
Documents travel the world by courier creating time delays and risk of loss of documents.
It is difficult for market participants to establish whether a buyer or seller has a clean track record for fulfilling contractual obligations.
The parties involved do not have a full, transparent view of the rice market or the benefit of price discovery.
Sustainability is at the heart of what we do. The Rice Exchange platform allows buyers to search for rice producers that have been awarded verifiable sustainable certifications giving buyers the certainty that they are purchasing sustainably produced rice. In turn this allows sustainable producers to charge a premium for their product.
Rice Exchange is a member of the Sustainable Rice Platform (SRP) and works with it to raise the profile of sustainably produced rice. The SRP was convened in 2011 by the UN Environment Programme and the International Rice Research Institute, together with partners from public and private sectors and civil society groups to create a standard for sustainably-produced rice. To find out more about how Rice Exchange helps its users to meet their sustainability and development objectives read our Sustainability & Social Impact Primer.
Director for Financial Services Partnerships
Luis Miguel Muriedas
Business Development Global
Ricex Pte Ltd
4 Battery Road