Iran Unrest Disrupts Indian Basmati Rice Exports Amid Payment Delays and Price Declines

Civil unrest in Iran has disrupted India's basmati rice exports, leading to payment delays, shipment halts, and a sharp decline in domestic prices. Iran, historically a major buyer and India's top basmati market, is facing political instability and economic challenges, including a depreciating currency, which have strained trade flows. Exporters report consignments stuck at Iranian ports and reduced buyer confidence. The Indian Rice Exporters Federation has advised caution, urging secured payment terms and diversification into alternative markets. Additionally, concerns persist over potential US tariffs on countries trading with Iran, adding uncertainty to the sector.