
Indian government rice stocks in the central pool are near 40 million tonnes, a decade high, and wheat stocks are above buffer norms. Officials say the stocks can cover the public distribution system and an open market sale even if the monsoon reduces output.
Large state stocks reduce the likelihood of Indian rice supply shortages and make an export ban less probable. This limits upside for rice prices despite the weak monsoon outlook.
After 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.
After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), 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.