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Global rice buyers are bracing for copycat export restrictions by other rice suppliers after India's ban. Sellers are trying to fill a gap of roughly 10 million tonnes.
Rival suppliers could raise exports by about 3 million tonnes, but other producers may limit shipments as local prices rally.
Possible restrictions from other producers would tighten global rice supply further and raise food inflation risks. Rice prices are likely to remain firm while the uncertainty lasts.
reuters.comRajendra JadhavAug 11, 2023After 168 past bullish policy events, 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.
