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India banned broken rice exports and imposed a 20% duty on other rice grades, with the duty effective September 9. The government is trying to augment supply and calm domestic prices after below-average monsoon rainfall reduced planting.
Basmati and parboiled rice were excluded.
The restriction reduces exports from the world's largest rice exporter, so international rice prices are likely to rise. Buyers may turn to Thai and Vietnamese supplies.
reuters.comNaveen ThukralSep 9, 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.
