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India has cleared five more rice mills to export non-basmati rice to China, bringing the total to 24. The first 100-tonne consignment shipped in September, and China lifted its ban on Indian rapeseed meal imports.
Access to China for Indian rice and rapeseed meal adds supply competition in the Chinese feed and food markets. The volumes are small so far, so the price effect is modest.
pib.gov.inOct 25, 2018After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% over 20.
Not enough comparable past events yet for a historical read.
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.
