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Global rice prices dropped on Monday after India and Pakistan moved to lift export curbs. India lifted its ban on non-basmati white rice exports, and Pakistan withdrew minimum export prices on all rice varieties.
Exporters warn of a pricing war between the two South Asian suppliers.
Two major exporters competing on price is likely to keep rice export quotes under pressure. Weaker rice prices favor buyers of rice-based feed ingredients.
aljazeera.comAbid HussainOct 2, 2024After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
India lifting the ban and Pakistan removing minimum export prices raised expected supply competition and price-war fears, though it is dated after the move.
