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The Indian Food Department has asked the External Affairs Ministry to explore sending surplus wheat and rice from FCI granaries abroad as humanitarian aid to deserving countries. Stocks in the central pool far exceed norms, and earlier requests on the same idea reportedly got no response.
Large government stock liquidation via G2G aid could add supply to world wheat and rice markets, a bearish influence on export prices if it proceeds.
indianexpress.comHarikishan SharmaOct 15, 2019After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 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.
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.
