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The Modi government has raised paddy and wheat support prices in its final year, with the back-loaded hikes now larger than under the previous government. Analysts say the increases are aimed at farmers ahead of national elections next year.
Higher procurement prices raise Indian rice and wheat production costs and floor prices, supporting export parity and world grain prices over time.
indianexpress.comHarish DamodaranJul 4, 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.
After 182 past bullish policy events, Wheat (SRW) moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), 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.
