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Indian rice exporters face weak conditions as the Chhattisgarh government cancelled a paddy tender and the 5% MEIS export benefit has lapsed. Shipments from Kakinada have slowed, and the rabi crop is expected to arrive from late April and early May.
Without the MEIS subsidy, Indian export offers are less competitive, and a larger new crop should press rice prices lower. Both factors point to softer world rice prices in the near term.
shahnn.comShahnnApr 14, 2019After 100 past bearish policy events, Rough 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.
