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India's government banned exports of non-basmati white rice in July and imposed a 20% duty on parboiled rice exports, plus a 40% tax on onion exports. It has also banned wheat exports since last year.
Retail inflation eased in August but upside risks remain.
India's rice export ban and duties remove a large share of world rice trade, supporting global rice prices while domestic inflation policy continues to restrict supply.
reuters.comNikunj Ohri, Aftab AhmedSep 12, 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 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.
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.
