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The Indian government set a 2019-20 foodgrains production target of 291.1 million tonnes, about 2.6% above the previous year. The rice target is 116 million tonnes and the wheat target is 100.5 million tonnes, with the goal based on an expected favourable monsoon.
A higher official output target signals expected supply growth that could ease Indian import demand for grains. Targets are not forecasts, so the price effect is modest.
thehindubusinessline.comOur BureauApr 25, 2019After 87 past bearish report events, Rough Rice moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% 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.
