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India will allow broken rice shipments of 397,267 tonnes that were backed by letters of credit issued before the 8 September export ban. The ban had trapped nearly 1 million tonnes of cargo at ports or in transit.
Releasing trapped cargoes adds some supply to the export market, which is bearish for broken rice prices, especially for feed buyers in China.
theprint.inRajendra JadhavOct 13, 2022After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
