State Lenz's law. A metallic rod held horizontally along east-west directions is allowed to fall under gravity. Will there be an emf induced at its ends?

Lenz's law states that the polarity of induced emf is such that it produces a current which oppose the change in magnetic flux that produces it. Emf will be induced in the rod as there is change in magnetic flux. When a metallic rod held horizontally along east-west direction is allowed to fall freely under gravity i.e fall form north to south the magnetic flux changes and the emf is induced in it.