India's Basmati Rice Exports Expected to Remain Stable Amid Middle East Conflict

India's basmati rice exports are expected to remain steady with up to 2% growth over the 6.06 million tonnes exported in 2024-25, despite the ongoing Middle East conflict. While exports to Iran, a significant market, may decline, increased demand from Saudi Arabia, Iraq, UAE, and Yemen is likely to offset this. Exporters face logistical challenges such as limited ship availability and longer transit times, which may extend working capital cycles, but cost increases are expected to be passed on to customers, maintaining profitability and stable credit profiles.