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India's government cut the export duty on parboiled rice to 10% from 20%, effective immediately, with similar cuts for husked rice and paddy. The move follows storage pressure from last year's stock as the new crop procurement starts on October 1.
The duty had been raised in August 2023 after a poor El Niño monsoon.
Lower export duties make Indian parboiled rice more competitive abroad and add supply to global markets. Clearing storage also means more rice available for export, which is bearish for rice prices.
livemint.comDhirendra Kumar27 sept 2024
reuters.comRajendra Jadhav27 sept 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 cut in export duty on parboiled rice to 10% on Sept 27 adds to the export supply outlook, reinforcing the bearish move, though it is a secondary factor.
