Basmati rice prices have come under sharp pressure, falling ₹5-7 per kg in just one week as escalating unrest in Iran disrupts trade and delays payments. Iran, India’s second-largest Basmati export market, imported nearly $750 million worth of rice last year, making it a crucial destination for Indian exporters. With communication links broken and payments stuck, over ₹2,000 crore of exporters’ money is currently at risk. Large stockpiles are building up at Iranian ports and Indian harbours like Mundra, creating supply stress amid a bumper rice crop in India. The Rice Exporters Federation has urged caution, warning that if the crisis persists, Basmati prices could fall sharply, even by 30-40%, echoing past Iran-related disruptions.
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