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India may extend its wheat export ban beyond March and keep curbs on non-premium rice exports, according to two people familiar with the matter. Government cereal stocks are at a five-year low, and an inter-ministerial decision is due in March.
A continued ban removes a major exporter from world wheat and rice markets, which supports international prices. Low domestic stocks also point to continued government procurement rather than sales abroad.
hindustantimes.comZia HaqFeb 12, 2023After 182 past bullish policy events, WHEAT 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, 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.
