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India's Commerce Ministry has asked the All India Rice Exporters Association to find new markets for non-basmati rice. The association met envoys from 11 African countries and sees room for at least 10% more exports to Africa within two years.
India exported 5.66 million tonnes of non-basmati rice in 2016-17.
Stronger Indian export promotion would tighten global rice trade and support rough rice prices, though the plan is still exploratory.
customstoday.mediaCT ReportDec 20, 2017After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% 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.
