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Basmati exports from Punjab and Haryana have stalled after most samples failed mandatory EU and US testing for residues of unregistered pesticides. Punjab and Haryana together account for 80 to 90 percent of India's Basmati exports, and a DGFT certification notification issued in November made testing mandatory.
Blocked shipments reduce export demand for Basmati and could push surplus supply into domestic markets, pressuring rough rice prices.
indianexpress.comAnju Agnihotri ChabaDec 13, 2019After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
