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India's government says rice output will fall for the first time in eight years, following its ban on exports of non-basmati white rice. Lower production raises the likelihood that the government will extend export curbs to hold down food prices before a general election.
A smaller Indian crop combined with continued export restrictions keeps tight supply in the world rice market, supporting Asian rice prices that are already near multi-year highs.
reuters.comFeb 29, 2024After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% 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.
