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India's Food Secretary said the government will periodically review its wheat and rice export bans based on stocks and domestic retail prices. He also said procurement of the Kharif rice crop is short and the government aims to close the gap within 10 days.
Possible easing of the bans would add exportable supply, while continued procurement shortfalls keep domestic stocks tight, so the net effect on wheat and rice prices is mixed.
cnbctv18.comAbhimanyu SharmaNov 6, 2023After 137 past neutral policy events, Wheat (SRW) moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% over 20.
After 100 past neutral policy events, Rough Rice moved a median +0.0% over 5 sessions (51% higher; middle half -2.6% to +2.3%), and +0.7% 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.
