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India's cabinet committee approved an agriculture export policy that keeps shipments of processed and organic farm goods free of restrictions. Major staples including rice, wheat, cotton and sugar are not exempted, and the government will keep reviewing supply and demand before imposing curbs.
The policy targets farm exports of over $60 billion by 2022.
Keeping rice and wheat subject to possible export curbs leaves the risk of sudden Indian export restrictions, which have historically shifted buyers to competitors and can tighten global supply. Buyers should treat Indian rice and wheat export availability as conditional rather than firmly open.
indianexpress.comENS Economic BureauDec 6, 2018After 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.
After 137 past neutral policy events, WHEAT moved a median -0.4% over 5 sessions (43% higher; middle half -1.9% to +1.2%), and +0.3% 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.
