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The Indian Agriculture Ministry expects higher kharif and rabi foodgrain output in 2019-20 after a forecast of a near-normal monsoon. Rice output is pegged at 102 million tonnes and sugarcane is projected to reach a record 385.5 million tonnes.
A larger expected Indian harvest reduces import needs and points to softer domestic and export rice prices. The forecast depends on the monsoon, so the market reaction will depend on rainfall.
thehindu.comSpecial CorrespondentApr 25, 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.
