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India scrapped the export tax on parboiled rice, following an earlier cut in the duty from 20% to 10%. It also removed the 10% export duty on husked brown rice and paddy, as inventories rose and a bumper crop was expected.
Duty-free exports from the largest exporter should add supply and push other exporters to cut prices, which is bearish for global rice prices.
triunetrades.comShubham MFeb 3, 2025After 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.
