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India outlawed exports of non-basmati white rice to head off domestic price spikes after heavy rains damaged crops. Retail rice prices had risen more than 11% over 12 months.
Basmati and other exemptions remain, and authorities will consider food-security requests from other countries.
Non-basmati white rice is about a quarter of India's exports, so the ban is likely to push up global rice prices, particularly for importers in Asia and Africa.
bbc.co.ukJul 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.
