Basmati Bottleneck: Iran's Imports Stalled at Indian Ports Amid Conflict
Around 100,000 tonnes of basmati rice bound for Iran are stuck at Indian ports due to the Israel-Iran conflict. This has led to financial strain on exporters and a drop in domestic rice prices. Discussions are underway with Indian authorities to address the crisis.
- Country:
- India
An estimated 100,000 tonnes of basmati rice, intended for shipment to Iran, are currently stranded at various Indian ports amidst the escalating Israel-Iran conflict, according to the All India Rice Exporters Association.
The association's president, Satish Goyal, reported that the vessels necessary for transporting the rice to Iran, which accounts for 18-20% of India's basmati rice exports, are unavailable. Insurances are also scarce owing to the Middle East tensions.
As a result of the shipping disruptions, prices have dropped by Rs 4-5 per kg domestically, while exporters face mounting financial hardships. The association plans to meet with government officials to discuss a resolution.
(With inputs from agencies.)
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