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India's rice exports rose 7.4% year on year to 5.13 million tonnes in April-August, led by a 9.4% increase in non-basmati shipments. Basmati exports rose 4% to 1.85 million tonnes.
Non-basmati shipments go mainly to Africa and basmati mainly to the Middle East.
Higher Indian export volumes add supply to the world rice market, which is bearish for global rough rice prices. Strong demand from African buyers, however, limits the downside.
business-standard.comReutersOct 11, 2017After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
