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Paddy 1121 basmati-type contracts on the ICEX platform, launched July 11, 2019, hit the lower circuit limit in early trade on July 22, falling over 3% to Rs 3,865 per quintal. Rainfall improving sowing conditions in Haryana and Punjab, along with expectations of a large crop, drove the decline.
Expected larger Indian paddy supply from better monsoon rains points to softer domestic rice prices, which weighs on export-linked rice and rice by-product values.
economictimes.indiatimes.comSutanuka GhosalJul 22, 2019After 27 past bearish weather events, Rough Rice moved a median -1.6% over 5 sessions (37% higher; middle half -3.4% to +1.1%), and -1.3% 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.
