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Chhattisgarh's government set a bonus of Rs 300 per quintal on paddy, and the Centre raised the paddy minimum support price by Rs 80. The state faces severe drought and expects about a 30 percent loss in paddy production, with a procurement target of 6.9 million tonnes.
A sharp drought-driven output loss and state procurement at support prices reduce the paddy available to traders, which tightens rice supplies and supports rice prices.
business-standard.comR Krishna DasNov 3, 2017After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
