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The Indian government may direct FCI to sell about 1.5 million tonnes of broken rice to grain-based biofuel units at roughly Rs 22-23 per kg. The move would use surplus rice stocks, which are about three times the required buffer, and address idle distillery capacity caused by lower sugarcane output.
Diverting surplus broken rice into biofuel feedstock removes supply from food and feed channels, which is bearish for Indian rice prices and helps clear FCI stocks.
timesofindia.indiatimes.comTNNDec 9, 2019
business-standard.comSanjeeb Mukherjee, Shine JacobDec 22, 2019After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
