New Delhi, June 20
The ongoing conflict between Israel and Iran has had a significant impact on India’s rice exports, with shipments to Iran coming to a near halt, rice exporters said on Friday.
Rrice exporter Narendra Miglani said: "The war between Iran and Israel is affecting Indian rice exporters."
"Due to the conflict, exports of rice routed to Iran have stopped, and nearly 1 lakh metric tonnes of rice from Haryana, Punjab, Delhi, and Uttar Pradesh are currently stuck at ports," he added.
Miglani said that India exports the highest quantity of basmati rice to Iran, followed by Saudi Arabia and Iraq.
He further added that the conflict has caused a drop of nearly Rs 1,200 per quintal in export rice prices.
Exporters are particularly concerned about payments stuck in Iran and rice containers stranded at port terminals.
As rice shipments to Iran are not insured, exporters now fear heavy losses if the rice goes bad.
Adding to the pressure, Miglani pointed out that export permits for Iran are valid for only four months.