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Bloomberg reports India is considering extending its 20% export tax on parboiled rice, which is due to expire March 31, to help control food inflation before elections. There is no immediate plan to ban parboiled exports, and Asian rice prices are reported near a 15-year high.
Extending the export levy would keep a major share of world rice supply constrained, likely pushing benchmark Asian prices higher and raising costs for importers in West Africa and the Middle East.
tbsnews.netBloombergFeb 8, 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.
