# Indian trade curbs to cut exports by $4 bln, Red Sea attacks a risk -source

> 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.

- Date: 2023-12-21 · published 2023-12-21T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/32643-indian-trade-curbs-to-cut-exports-by-4-bln-red-sea-attacks-a-risk-source
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- RICE: bullish ▲
- WHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-05-14 | [India says ban on wheat exports is to check unregulated trade \| Reuters](https://feedsoft.ai/events/41368-india-says-ban-on-wheat-exports-is-to-check-unregulated-trade-reuters.md) | +4.0% | -0.3% |
| WHEAT | 2023-02-12 | [India likely to continue curbs on wheat, rice exports \| India News](https://feedsoft.ai/events/37311-india-likely-to-continue-curbs-on-wheat-rice-exports-india-news.md) | -3.2% | -9.2% |
| WHEAT | 2023-05-24 | [Ban on wheat exports, curbs on rice shipments to stay](https://feedsoft.ai/events/35894-ban-on-wheat-exports-curbs-on-rice-shipments-to-stay.md) | -2.4% | -2.7% |
| WHEAT | 2022-09-22 | [India defends its decision to ban rice, wheat exports at WTO - The Hindu](https://feedsoft.ai/events/39558-india-defends-its-decision-to-ban-rice-wheat-exports-at-wto-the-hindu.md) | -0.2% | -10.7% |
| WHEAT | 2023-12-08 | [Ban on onion exports, curbs on wheat stocks as govt. battles rising food prices \| Mint](https://feedsoft.ai/events/32650-ban-on-onion-exports-curbs-on-wheat-stocks-as-govt-battles-rising-food-prices.md) | -4.0% | +1.2% |
| RICE | 2023-07-20 | [Why Indian rice export ban is so important to global trade \| Reuters](https://feedsoft.ai/events/35005-why-indian-rice-export-ban-is-so-important-to-global-trade-reuters.md) | +1.3% | -0.6% |
| RICE | 2024-03-26 | [India's rice exports at risk as exporters face huge tax demand-sources](https://feedsoft.ai/events/31138-india-s-rice-exports-at-risk-as-exporters-face-huge-tax-demand-sources.md) | -5.7% | +12.6% |
| RICE | 2022-08-29 | [India Seeks to Avoid Panic With Targeted Rice Export Curb - Bloomberg](https://feedsoft.ai/events/39985-india-seeks-to-avoid-panic-with-targeted-rice-export-curb-bloomberg.md) | +0.4% | +0.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/indian-trade-curbs-cut-exports-by-4-bln-red-sea-attacks-risk-source-2023-12-21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.