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Domestic paddy prices in India are recovering modestly after falling to very low levels earlier in the season. Flood inundation and a recent cyclone have damaged crops in key growing areas, and a higher minimum support price for 2019-20 is supporting values.
Exporters expect the Iran market to recover over the next two to four months.
Crop losses and a higher support price tighten domestic rice availability and lift floor prices, which supports export offers. Recovery in Iranian demand would further firm basmati prices.
business-standard.comVirendra Singh RawatNov 25, 2019Not 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.
