Indian rice exports to Iran have been hit hard by the
growing tensions between the United States and Iran.
The rice exporters, a sizeable chunk of whom are from
Haryana, have stopped the second shipment to Iran after the first shipment
containing hundreds of containers was stopped at the Mundra Port in Gujarat.
One of the leading rice exporters based in Kaithal,
Narinder Miglani recently said that most of the exporters had initiated their
first shipment of this season which has now been withheld.
Fate of the shipments is uncertain now
“I had sent more than 100 containers to Mundra which
were about to be shipped to the Bandar-Abbas and Chabahar Ports of Iran. We
have withheld further shipment until the situation improves. We are not packing
the rice now as the fate of the shipments is uncertain,” Narendra Miglani said.
Miglani said that the rice exports normally start in
the first week of January every year and continue till June. This is a
We have received up to 80 per cent of the
payments and 20 per cent have still not been released: rice exporter Miglani
"Iran had withheld the payments following some
currency issue. We have received up to 80 per cent of the payments and 20 per
cent have still not been released. However, we trusted the buyers and started
sending the shipments to Iran this year," says Narinder Miglani.
Rice exporters now fear that the US-Iran crisis will
have a depressing impact on rice sales in India. Prices of Pusa 1121, a popular
basmati rice variety in India and abroad, has seen a drop of Rs 150 per quintal
within a couple of days. This variety of basmati rice was being sold at Rs
3,050 (per quintal) which dropped to Rs 2,900 per quintal.
In 2019, India exported basmati rice worth Rs 32,800
crore, out of which rice worth Rs 10,800 crore was imported by Iran. However,
the exporters are yet to receive payments amounting to more than Rs 500 crore
Indian exporters now are estimating that if the
situation did not improve it will badly impact rice farmers and exporters both.