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A 17-member Pakistani rice exporter delegation is traveling to Saudi Arabia to attend a Biryani Festival and promote rice. Pakistan's share of Saudi rice imports has fallen from 80 percent to 10 percent.
Export promotion efforts are unlikely to shift global rice prices in the near term, as the story concerns one importer's share and no supply change.
arabnews.comMar 22, 2019After 70 past neutral trade events, Rough Rice moved a median +0.2% over 5 sessions (51% higher; middle half -1.3% to +1.9%), 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.
