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Indian officials are considering measures to boost domestic wheat supplies and cool local prices, which had surged to six-month highs. Trade and industry officials suggest this year's crop may be below the government's record estimate of 112.74 million tonnes.
Food inflation is a political concern ahead of next year's general election.
Possible Indian policy moves to add wheat supply, such as scrapping the import tariff, could affect global trade flows. A lower domestic crop than estimated would also support wheat prices.
ukragroconsult.comAug 15, 2023After 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.
