Loading…
Swelling Indian rice stocks and an expected good harvest may lead the government to relax its export curbs. An inter-ministerial meeting proposed replacing the non-basmati and broken rice export ban with a fixed duty and lowering the minimum export price for basmati.
India exported 15.7 million tonnes of rice in FY24, down from 21.8 million in FY23.
Relaxing the curbs would release exportable supply and ease upward pressure on world rice prices. Rice buyers in importing countries would benefit from lower offers.
livemint.comPuja DasJul 9, 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.
