Mumbai: The ongoing conflict in the Middle East, sparked by the the US-Israel attacks on Iran, has led to blocked shipping routes and soaring freight costs, halting the export of nearly 400,000 metric tons of Indian Basmati rice.
According to Global Mirror, Satish Goel, President of the All India Rice Exporters Association, said that around 200,000 tons of Basmati rice are stranded en route due to the disruption of shipping lanes, while an equal amount is stuck at Indian ports. He said that although exporters had already moved the stock to ports, the surge in container shipping rates has made it impossible to send the rice to the Middle East. Moreover, no alternative market can absorb such a large quantity.
It is noteworthy that the Middle East conflict has effectively paralyzed maritime trade routes and doubled transportation costs, significantly impacting India’s rice export industry.
According to Global Mirror, Satish Goel, President of the All India Rice Exporters Association, said that around 200,000 tons of Basmati rice are stranded en route due to the disruption of shipping lanes, while an equal amount is stuck at Indian ports. He said that although exporters had already moved the stock to ports, the surge in container shipping rates has made it impossible to send the rice to the Middle East. Moreover, no alternative market can absorb such a large quantity.
It is noteworthy that the Middle East conflict has effectively paralyzed maritime trade routes and doubled transportation costs, significantly impacting India’s rice export industry.