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India restricted rice exports by banning broken rice and imposing a 20% duty on other grades after weak kharif sowing. The Food Secretary said paddy acreage was 3.8 million hectares lower and estimated rice production losses of 10 to 12 million tonnes.
The government said current stocks remain in surplus.
Loss estimates of 10 to 12 million tonnes are large relative to global rice trade, so the curbs tighten world supply. Prices are likely to stay firm while the restrictions remain in place.
timesnownews.comTimes Now ExclusiveSep 12, 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.
