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Indian non-basmati rice exports have stalled because the government has not renewed a 5% export incentive under the MEIS scheme, which lapsed on March 25. Exporters say no fresh contracts have been signed, and rice exports fell to 6.2 million tonnes in the 10 months to January.
Frozen Indian export demand removes a major supply source from world rice markets, which is bearish for Indian rice prices and supportive of rival origins. Renewal of the scheme would restore competitiveness.
dst.newsMar 28, 2019After 100 past neutral policy events, RICE moved a median +0.0% over 5 sessions (51% higher; middle half -2.6% to +2.3%), and +0.7% 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.
