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The European Commission has tightened the residue limit for Basmati rice, and India's Commerce Secretary said the ministry is negotiating with the EU. The central government also set the 2017-18 rice procurement target at 37.5 million tonnes, up from 33 million tonnes last season.
Higher state procurement targets point to large Indian rice stocks, while the EU residue limit threatens an export market, both of which weigh on export prices.
mundus-agri.euJul 28, 2017After 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.
