Iran Conflict Causes Shipment Delays and Price Impact on Indian Rice Exports

Following US and Israeli military strikes on Iran, Indian rice exporters, particularly in Haryana, face shipment delays and payment disruptions to Iran and Afghanistan via Iran's Bandar Abbas port. The Indian Rice Exporters Federation has advised caution, recommending exporters avoid new CIF contracts and shift to FOB terms to mitigate rising freight and insurance costs amid regional instability. Iran and Middle Eastern countries account for a significant share of India's rice exports, and the conflict has already caused basmati prices to fall by Rs 400-500 per quintal. The full impact depends on the conflict's duration and evolving trade conditions.