India's Rice Export Surge: Lifting Restrictions and Expanding Markets
The removal of import restrictions by Iran is set to significantly boost Indian rice exports, according to the Indian Rice Exporters Federation. This move will help mitigate the effects of US tariffs and open new global markets, potentially increasing India's global trade share in rice.
- Country:
- India
In a development hailed as significant by the Indian Rice Exporters Federation, Iran has lifted its four-month ban on rice imports, offering a major boost to India's export capabilities.
Prem Garg, Chairman of the Indian Rice Exporters Federation, emphasized the importance of this change, as Iran is a key importer, buying over 1,000,000 metric tons annually. This change is expected to significantly boost Indian rice exports and help offset the influence of recent US tariffs.
While acknowledging the ongoing challenges of US tariffs, which in the short term impact Indian rice exports, Garg suggests that this situation could be an opportunity for India to increase its share in the global rice trade from 45 percent to an ambitious 55 percent, fostering growth in new markets.
(With inputs from agencies.)
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