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Date: 17/10/2024

Basmati rice exporters see slowdown, payment issue from Iran
 
Basmati rice exporters have started fearing a slowdown in shipment to Iran, a major destination of aromatic rice if the Israel-Iran conflict escalates. The risk of basmati rice shipment to Iran would increase following the escalation in regional conflict and payment settlement for rice exports is likely to be delayed. The Government Trading Corporation (GTC) of Iran recently floated a tender to buy 0.1 MT of basmati rice from India, which is expected to be supplied by October 30. Exporters said that out of which around 50,000 tonnes have already been shipped and the rest of the shipments have to leave ports from India by at least October 15. According to the commerce ministry, India’s basmati rice exports during 2024-25 (April-July) were 1.91 million tonnes (MT), out of which shipment to Iran had a share of around 19%, as per a report.
 
Source: Exim News Service: new delhi, Oct. 16



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