Loading…
An Economic and Political Weekly analysis says retail inflation reached 6.83% in August 2023, above the Reserve Bank of India's 6% upper limit, with food prices driving much of the rise. It describes measures taken so far, including the non-basmati white rice export ban, the wheat export ban and stock limits, and a 20% duty on parboiled rice.
Continued use of export bans and stock limits to contain food inflation keeps Indian rice and wheat off world markets, which is the key policy risk for global grain prices.
epw.inAshok Gulati, Raya Das, Sanchit Gupta, Manish Kumar PrasadNov 3, 2023After 468 past policy events, RICE moved a median +0.3% over 5 sessions (53% higher; middle half -2.0% to +2.0%), and +0.1% over 20.
After 1,019 past policy events, WHEAT moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.5%), and +0.2% 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.
