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Indian rice prices reached their highest in 6.5 years, with 5% broken parboiled rising to $447-$451 per tonne. Rising overseas inquiries and limited supply, plus a rupee near a 32-month high, drove the rally.
India's 2017 rice exports are estimated at a record 12.3 million tonnes.
Tight export supply and a stronger rupee squeezing exporter margins are pushing up world rice quotes, raising the cost of rice-based feed ingredients.
business-standard.comReutersFeb 1, 2018After 189 past bullish trade events, RICE moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
