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The Government of India extended the MEIS duty benefit to non-basmati rice exporters at 5% for shipments from 26 November 2018 to 25 March 2019. India exported 8.63 million tonnes of non-basmati rice in 2017-18, and kharif rice output is estimated at a record 99.24 million tonnes.
The subsidy supports Indian rice export competitiveness, but record domestic output is a bearish offset that limits the price effect on world rice markets.
dailyexcelsior.comNov 27, 2018After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% 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.
