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Philippine officials hope that India's lifting of its non-Basmati white rice export ban will ease global rice prices. India has set a minimum export price of $490 per ton, which is significantly below current Vietnamese and Thai export prices.
The ban had been in place since July 2023.
Returning Indian non-Basmati supply adds to global availability, which is expected to pressure world rice prices lower, although the $490 floor limits how far they may fall.
philstar.comJasper Emmanuel ArcalasSep 30, 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.
