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India banned exports of non-basmati white rice with immediate effect, citing a 3% monthly rise in retail prices after monsoon rains damaged crops. Exporters said the move could affect global markets as much as the Ukraine war affected wheat.
India already extended its wheat export ban and capped sugar exports this year.
Low global inventories mean the cut in Indian shipments is likely to lift international rice prices and raise costs for feed and food importers.
business-standard.comReutersJul 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.
