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India's government issued a fact sheet defending its September rice export changes, including the ban on broken rice exports. It said broken rice exports rose more than 43-fold since 2019 and that ethanol plants received far less rice than contracted.
Domestic broken rice prices had risen to Rs16/kg, which squeezed poultry and livestock feed costs.
Restricting broken rice exports removes a low-cost feed grain from world markets, which supports rice and substitute feed prices. Tighter Indian supply is likely to keep global rice prices firm.
pib.gov.inSep 22, 2022After 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.
