Iran-Israel Conflict Impact: Basmati Exporters Warn Of Payment Crisis, Falling Prices

Source:  Zee News
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The ongoing conflict between Iran and Israel is starting to take a serious toll on India’s basmati rice trade, with exporters on Sunday warning of a looming payment crisis and sharp price drops if the situation does not improve soon. All India Rice Exporters Association President Satish Goyal said that over 1 lakh tonnes of basmati rice meant for Iran is currently stuck at Indian ports.

“Iran is a very important market for us. Around 18 to 20 per cent of India’s total rice exports go to Iran. Every year, we export nearly 1 million tonnes of basmati rice to them,” Goyal told IANS, expressing deep concern over the disruptions.

He added that while there hasn’t yet been a complete halt in trade, delays in shipments and uncertainty around payments could cause severe financial stress. “If this conflict continues, the local market will start facing a cash crunch. Prices have already dropped by Rs 4 to Rs 5 per kilogram, and if the situation worsens, this decline could deepen,” he told IANS.

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