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US consumers are panic buying rice after India's ban on non-basmati white rice exports took effect on July 27. Prices in India rose about 10% over the month.
Chicago rough rice futures gained more than 4% over the past month.
Export restrictions from the largest rice exporter and a rise in CBOT rough rice futures point to firmer global rice prices.
libertynation.comAndrew MoranJul 31, 2023After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The ban took effect July 27 and US consumers began panic buying, adding demand pressure and sentiment support to Chicago rough rice futures just before the move.
