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A government official said India's ban on non-basmati white rice exports may last until at least November. The decision will depend on the kharif sowing season and the monsoon yield, given concerns about El Niño.
Retail rice prices had risen about 10.6% year on year as of August 7.
A prolonged ban keeps a major exporter out of the market through the coming months, supporting global rice prices. Importers will need to source from other origins for longer.
moneycontrol.comAdrija Chatterjee, Pallavi SinghalAug 16, 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.
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.
