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Mint reports government second advance estimates putting India's 2021-22 foodgrain output at a record 316 million tonnes, 8% above the five-year average. Oilseed output is estimated at over 37 million tonnes.
Excess September-October rains delayed harvests and damaged some crops.
A record domestic harvest reduces India's import needs for pulses and oilseeds, which may ease demand on world markets. Higher domestic supply could also weigh on rice prices.
livemint.comSayantan BeraFeb 20, 2022After 87 past bearish report events, Rough Rice moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
