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India's exports face a shortfall of about $4-5 billion this year after it clamped curbs on trade in wheat, rice and sugar, a source said. Red Sea attacks may also hit basmati shipments.
Indian export curbs remove significant supply from world wheat, rice and sugar markets, supporting global prices, while Red Sea disruption raises freight costs for basmati.
reuters.comShivangi AcharyaDec 21, 2023After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 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.
Not enough comparable past events yet for a historical read.
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.
