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Chinese authorities are considering another cut to rice support prices in 2018 to move toward market pricing and reduce a very large state stockpile. China produced a record 2017 crop of about 208.56 million tonnes of rough rice, and its imports rose 15% year on year through November.
Lower support prices and efforts to sell down state stocks should reduce China's import needs and weigh on world rice prices.
dimsums.blogspot.comLabels: riceJan 5, 2018After 100 past bearish policy events, Rough Rice moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
