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Public wheat stocks in India on September 1 were at a six-year low, and sugar carryover stocks are the lowest in five years. Rice production is uncertain because of deficient monsoon rain in the Gangetic plains and a new plant virus in Punjab and Haryana.
The piece argues for lifting export curbs on rice, wheat and sugar as soon as possible.
If India lifts its export curbs, global rice and wheat supply would loosen and prices could ease. Low domestic stocks and the crop uncertainty make an early reversal unlikely.
indianexpress.comEditorialSep 16, 2022After 100 past neutral policy events, RICE moved a median +0.0% over 5 sessions (51% higher; middle half -2.6% to +2.3%), and +0.7% over 20.
After 137 past neutral policy events, WHEAT moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), 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.
