Coronavirus in Iran affects India’s basmati exports; domestic prices fall

India’s exports of basmati rice to Iran, which are already facing the heat of the US-Iran standoff, have been hit further after Iran reported several deaths from the coronavirus outbreak, reports Business Standard. Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran is […]

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APEDA blacklists basmati rice brands Mohsen and Avazah over defaults

The Agricultural and Processed Food Product Export Development Authority (APEDA) has blacklisted two private basmati rice brands, Mohsen and Avazah, owned by importers in Saudi Arabia, Iran and the United Arab Emirates, with immediate effect, reports Business Standard. The move follows persistent payment defaults on the part of the Gulf-based importers to Indian exporters. Until two years […]

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India’s basmati rice exports may take a hit this fiscal due to low buying from Iran and Saudi Arabia

Pre-emptive buying by Iran and Saudi Arabia has muted the overall exports growth of Indian Basmati rice in the current fiscal, reports Financial Express. During the first six months of the fiscal, rice worth Rs 15,564 crore has been exported, which is less than half of the value of rice exported during the last fiscal. […]

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Domestic non-basmati paddy prices rule firm over damage to crop last year

Amid the setback faced by the Indian basmati exporters over stalled shipments due to the ongoing US-Iran standoff, the prices of non-basmati paddy are holding firm and rising in some local markets after reports of crop damage following last year’s heavy rainfall and subsequent flooding in major growing areas have surfaced, Business Standard reports. After the advisory by All India Rice […]

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Basmati exporters concerned over their Iranian dues after death of Qassem Soleimani

The death of Iran’s most powerful military commander could send jitters to India’s multi-billion dollar basmati rice export industry, reports Financial Express. With dues soaring over Rs 800-900 crore, industry insiders have said that the news of the assassination of Qassem Soleimani could make matters worse for an industry which sent one-third of its total shipments […]

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India basmati rice exports fall to $2.22 billion in Apr-Oct FY20

India’s basmati rice shipments declined by a tenth at $2.22 billion during April- October 2019-20 on lower volumes, despite a marginal increase in per unit realisation, according to the latest figures released by the Agricultural and Processed Foods Export Development Authority (APEDA) under the Commerce Ministry. Exports of basmati stood at $2.47 billion in the […]

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