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The Indian government has started promoting rice exports through its embassies abroad, with talks under way to substitute rice for banned wheat shipments to some countries. Officials say export restrictions on rice are not expected soon because of a large harvest and lower international demand.
Active government promotion of rice exports signals more supply entering world markets, which is bearish for global rice prices.
moneycontrol.comSubhayan ChakrabortyJun 2, 2022After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% over 20.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% 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.
