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India's government revised its export policy for non-basmati white rice from prohibited to free, subject to a $490 per tonne minimum export price. The Finance Ministry had cut the export duty on several rice categories from 20% to 10% a day earlier.
The DGFT notification took effect immediately.
Reopening exports of non-basmati white rice adds supply to world markets and typically weighs on prices. The minimum export price limits downside but still allows significant overseas sales.
indianexpress.comExpress News Service28 sept 2024
reuters.comMayank Bhardwaj, Sethuraman R, Rajendra Jadhav1 oct 2024Tras 100 eventos bajista de política pasados, Arroz cáscara se movió una mediana de -0,1 % en 5 sesiones (49% al alza; mitad central entre -1,7 % y +1,6 %), y +0,1 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
The DGFT policy change from prohibited to free exports took effect immediately, which increases exportable Indian supply and triggered the selloff.
