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India has proposed letting the World Food Programme draw on its state-held foodgrain stocks for humanitarian aid. The proposal responds to a WTO appeal to lift export bans on rice and wheat for humanitarian purposes.
India had earlier opposed a related proposal, citing inflation risks at home.
If adopted, the proposal would allow some Indian rice and wheat to move into humanitarian channels despite export restrictions. The volumes are likely small relative to global trade, so the price effect is modest.
livemint.comAsit Ranjan MishraDec 23, 2020After 100 past neutral policy events, Rough 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 (SRW) 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.
