This study aims to evaluate the effects of polishing and parboiling on proximate composition, structure, phenolic compounds, antioxidant activity, cooking time and hardness of IAC-600 black rice cultivar and MPB-10 red rice lineage. Proximate analysis and light micrographs revealed higher migration of red rice proteins than black rice proteins to the endosperm as a result of parboiling. Parboiling reduced the ash content of red rice while no difference was determined in black rice. Gelatinized starch granules from both genotypes showed similar appearance. There was a decrease in relative crystallinity on both black and red rice subjected to parboiling, which was an indicative of crystallites disruption. Polishing removed more than 90% of free phenolics for both genotypes, while parboiling allowed the partial preservation of free phenolics content in polished rice. Parboiling induced an increase in the cooking time of red rice, but a decrease in the cooking time of black rice.