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Indian rice traders are buying forward in a panic after India's surprise wheat export ban in May. The ban came days after New Delhi had targeted record wheat shipments, and India also capped sugar exports.
Panic buying of rice for forward delivery tightens nearby availability and supports international rice prices in case India restricts shipments.
reuters.comRajendra JadhavJun 6, 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.
