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India's Union Food Secretary said the government has extended export restrictions on sugar, wheat and rice to keep domestic prices stable through the festival season. A 20% export duty on parboiled rice will remain until March 31, 2024, and 50 lakh tonnes of wheat will be offloaded via e-auction under the Open Market Sale Scheme.
Extended Indian export curbs and wheat releases remove supply from world markets, supporting rice and wheat prices while adding domestic supply that caps Indian prices.
thehindu.comThe Hindu BureauOct 19, 2023After 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.
After 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 72 past policy events, Wheat (HRW) moved a median -1.2% over 5 sessions (38% higher; middle half -3.0% to +1.6%), and -0.8% 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.
