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India's Union Cabinet approved the Farming Produce Trade and Commerce Ordinance, an amendment to the Essential Commodities Act and a farm price assurance ordinance. The package follows a Rs.21 trillion COVID-19 stimulus and is intended to boost agricultural trade.
Liberalised marketing and stock rules could increase India's agricultural export capacity over time. Near-term effects on world grain and oilseed prices are likely small.
indbiz.gov.inShubhankar ChakravortyJun 8, 2020After 468 past policy events, Rough Rice moved a median +0.3% over 5 sessions (53% higher; middle half -2.0% to +2.0%), and +0.1% over 20.
After 1,019 past policy events, Wheat (SRW) moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.5%), and +0.2% 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.
