By Admin 
Basmati rice expenses: The increasing tension between Israel and Iran has caused turmoil in the middle East and this has made the sleep of the expoters of Basmati rice from Punjab. Actually, there are many countries in the Middle East including Iran, which ask India on a large scale basmati rice. At this time, many ships carrying basmati rice are on the way and if the war between the two countries, the ships may have to come back from the middle way. This will cause loss of crores of rupees.
Speaking to the Indian Express, Ashok Sethi of Punjab Basmati Exporters Association said, “It is not our bus to face this fight.” Many of our ships are already in the middle way with several consignments of Basmati rice. In case of increasing stress, they will not be able to reach their destination, which will cause loss of millions.
Basmati rice goes from India from Iran to Saudi
Middle East is a big buyer of basmati rice from India and has 40 percent of the total basmati production of the country in Punjab. Israel on Friday carried out missile attacks on several nuclear and military centers in Iran. Iran also retaliated and attacked Israel with drones. Iran’s supreme leader Ayatollah Ali Khamenei also warned Israel to ‘punishment’ for an attack on the country.
Trouble in getting insurance also
Sethi also said that Alam is that it is difficult to insure the goods to be exported because there is an atmosphere of tension, so insurance companies are also refusing to give coverage. The matter is not limited to basmati rice only. In the event of increasing war, there will also be trouble in import of oil, which will cause great loss to India.
Export of basmati rice is decreasing
According to the Agriculture and Processed Food Products Export Development Authority (APEDA), India’s foreign exchange income was Rs 48,000 crore from the export of basmati rice in 2022, out of which Punjab’s contribution was at least 40 percent.
Here, the export of Basmati rice from India to Iran has already been affected by the US ban on Iran because Iran is not able to pay India properly. India has stopped importing oil from Iran due to the US ban. Due to this, Iran does not have reserves to pay India for rupees. Here, imports have become expensive due to the decline in Iranian currency riyal, so it has been affected.
According to Commerce Ministry data, Iran’s stake in India’s total basmati rice exports ($ 3.54 billion) in FY 2022 was around 23 % ($ 0.81 billion), which has come down to 12 percent ($ 0.75 billion) by FY 2025.
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