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India's government has decided to keep its ban on wheat exports and its curbs on broken rice shipments in place this year to protect domestic consumers. The 20% export tax on white rice imposed in September 2022 is also likely to remain through the fiscal year.
Continued export restrictions on wheat and rice remove significant supply from world markets, supporting prices for grains used in feed and keeping global cereal prices firm.
ukragroconsult.comMay 24, 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.
After 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.
