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Indian rice traders have stopped signing new export contracts during the nationwide coronavirus lockdown. Labour shortages and logistics disruptions have hampered delivery of existing contracts, and about 500,000 tonnes of rice meant for March-April delivery are stuck at ports or in the pipeline.
India is the world's largest rice exporter, so a halt removes a major supply source. Rivals such as Thailand can fill the gap in the short term, but overall global rice prices are likely to firm.
reuters.comRajendra JadhavApr 6, 2020After 21 past bullish logistics events, RICE moved a median -0.5% over 5 sessions (38% higher; middle half -2.0% to +1.8%), and +3.6% 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.
