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At a special Committee on Agriculture meeting in Geneva, India opposed permanent tariff concessions and the dilution of tariff bindings in response to COVID-19. It argued that export restrictions are a WTO-consistent tool for preventing domestic shortages.
India's stance keeps export restrictions available to it, so export curbs remain a live risk for global rice and other farm prices. Agreement to open markets further would otherwise push trade flows and prices lower.
thehindubusinessline.comAmiti SenJun 21, 2020After 442 past trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.3%), and +0.6% over 20.
After 1,079 past trade events, Wheat (SRW) moved a median -0.0% over 5 sessions (49% higher; middle half -1.6% to +1.7%), 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.
