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The Indian Cabinet approved a plan to export 1 million tonnes of non-basmati white rice to Indonesia through NCEL, with Bulog as the Indonesian counterparty. Officials said the rice will be sourced from the open market rather than government buffer stock.
Global rice prices had firmed slightly from mid-November after falling over 10%.
The government-to-government contract creates a defined export channel for Indian rice, which supports Indian prices but adds supply to global markets and is bearish for rice.
thehindubusinessline.comPrabhudatta MishraJan 1, 2025After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
