New -Delhi, June 22 (IANS). The ongoing struggle between Iran and Israel has begun to influence India’s Basmati rice trade. Exporters warned on Sunday that if the situation did not improve soon, the payment crisis could arise and rice prices could drop drastically. Saath Goyal said with the news agency Ians, president of the All India Rice Exports Association,: “More than one Lakh Ton Basmati prices to be sent to Iran are still stuck on Indian ports. Iran is a very important market for us. Iran is about 18 to 20 percent of the total rice export of India.” Goyal said the business has not yet been completely interrupted. But due to the delay in the export process, serious financial tensions may arise as a result of pay uncertainty. If this struggle continues, there will be a shortage of cash in the local market. Prices have already dropped by four to five rupees per kg and if the situation worsens, this decline could increase even more. He said, “Now a major challenge until exporters do not have insurance coverage during the war. No insurance company covers the war risk for ships entering the fighting areas. That means if something happens during transport, exporters must suffer full loss. Goyal said: “Karnal of Haryana is an important center of exporting Basmati rice. About 25 to 30 percent of the total exports of India are from this area. Exporters of this region have been trading with Iran for the past 15 to 20 years without any interruption. -Is Bag/Ekd Share this story Tags
Iran-Israeli fighting impact: Basmati-rice exporters have warned against the payment crisis and prices are dropping
