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India has restricted or banned exports of onions, wheat, rice, sugar and pulses ahead of the first phase of national elections on April 19, 2024. Food inflation rose to 8.66 percent in February while FAO's global food price index fell 7.7 percent year on year in March.
The broad set of Indian export curbs on staples limits global supply and supports international grain prices, though the reported global food index decline points to softer overall food price pressure.
downtoearth.org.inShagunApr 12, 2024After 168 past bullish policy events, RICE moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
After 182 past bullish policy events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% 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.
India's export bans and restrictions on rice ahead of elections limit global supply and support international rice prices.
India's export bans and restrictions on rice and other foods ahead of elections constrain global supply and support international rice prices.
