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The Indian government is considering selling surplus foodgrains to African countries such as Ghana before the new kharif procurement season. Buffer stocks in August reached 71.1 million tonnes, roughly double the norm, with rice at 2.5 times and wheat at 1.84 times the norm.
Large Indian surplus stocks that could be exported at low prices would pressure global rice and wheat prices, though the plan is not yet concrete.
downtoearth.org.inJitendraSep 19, 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.
After 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.
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.
