The cargo is scheduled for Iran, which is India’s second-largest basmati rice market after Saudi Arabia.
Round 1,00,000 tonnes of basmati rice destined for Iran are stranded at Indian ports as a result of ongoing Israel-Iran battle, the All India Rice Exporters Affiliation mentioned on Monday. The shipments are primarily held up at Kandla and Mundra ports in Gujarat, with neither vessels nor insurance coverage obtainable for Iran-bound cargo as a result of Center East battle, Goyal informed PTI. Worldwide conflicts are usually not coated underneath customary transport insurance coverage insurance policies, leaving exporters unable to dispatch their consignments, he added.
Basmati rice export to Iran
Iran is India’s second-largest basmati rice market after Saudi Arabia. India exported round 1 million tonnes of the fragrant grain to Iran throughout the 2024-25 fiscal 12 months, which led to March. India exported roughly 6 million tonnes of basmati rice throughout 2024-25, with demand primarily pushed by the Center East and West Asian markets. Different main patrons embody Iraq, the United Arab Emirates and the USA.
Affiliation president Satish Goyal mentioned round 1,00,000 tonnes of basmati rice meant for Iran is at present caught at Indian ports, with Iran accounting for 18-20 per cent of India’s complete basmati rice exports. The delay in shipments and uncertainty round funds may trigger extreme monetary stress, he mentioned, including that basmati rice costs within the home market have already dropped by Rs 4-5 per kg. The affiliation is in contact with agri-export promotion physique APEDA on the problem. A gathering with Union Commerce and Trade Minister Piyush Goyal is scheduled for June 30 to debate the disaster, he added.
The Israel-Iran battle has escalated considerably in current weeks, with either side exchanging heavy strikes and the US turning into straight concerned within the hostilities. The transport disruption provides to challenges going through Indian rice exporters, who’ve beforehand handled fee delays and foreign money points within the Iranian market because of worldwide sanctions.
(Aside from the headline, this story has not been edited by DNA workers and is printed from PTI)
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