A rice pudding formulation which incorporates 2-16% dry weight parboiled medium grain rice which is processed by ultra-high temperature treatment of at least 230° F. for a time effective to produce sporecidal activity and to produce a rice pudding product which has a relatively-low level of microbiological activity and which is suitable for refrigerated distribution. The parboiled, medium grain rice is more tolerant to the high temperature and shear conditions of UHT processing. The rice maintains a soft texture for greater than 60 days of refrigerated storage in the finished rice pudding product.