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India's Commerce Minister Piyush Goyal said on June 3 that the government sees no need for now to curb exports of other food commodities. The comments came weeks after New Delhi banned private wheat exports on May 14 following a heat wave that hurt output.
Reassurance that rice and other staples are not under immediate restriction eases fears of a wider export ban, which would otherwise tighten global supplies and lift prices.
reuters.comMayank BhardwajJun 3, 2022After 72 past policy events, KWHEAT moved a median -1.2% over 5 sessions (38% higher; middle half -3.0% to +1.6%), and -0.8% 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.
