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India prohibited exports of non-basmati white rice with immediate effect after a late monsoon start hurt the crop and raised fears of a production shortfall. The ban follows an earlier curb on rice shipments in September 2022.
The article explains India's importance to global rice trade, which exceeded 55 million tons in 2022.
With India accounting for over 40% of world rice exports, the ban removes a large share of available supply and points to higher global rice prices and import costs for feed and food buyers.
reuters.comRajendra JadhavJul 20, 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.
