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Indian wheat prices hit a record 26,500 rupees a tonne, up nearly 27% since the May export ban, as market arrivals slowed. The government is considering releasing state reserves and cutting the 40% import tax to cool prices.
Rising Indian domestic wheat prices and possible import tax cuts could increase India's wheat import demand, supporting global wheat prices.
business-standard.comReutersNov 10, 2022After 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.
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.
