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India's trade policy has shifted from pro-consumer to pro-producer, shown by pulse import restrictions introduced in 2017 and a sharp drop in agricultural imports. Farm imports fell 18.9% year on year in the first three quarters of the fiscal year.
Restricting Indian farm imports reduces demand for pulses and other imported farm goods, which is mildly bearish for those markets. The effect on feed-grain prices is limited.
indianexpress.comFeb 6, 2019After 468 past policy events, Rough Rice moved a median +0.3% over 5 sessions (53% higher; middle half -2.0% to +2.0%), and +0.1% over 20.
After 1,019 past policy events, Wheat (SRW) moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.5%), and +0.2% 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.
