Dry Fruit Import Export: The increasing military tension and war-like situations between Iran and America have broken the back of global trade. The most direct and deadly impact of this international conflict is now being seen on Indian businessmen. Big businessmen involved in the import and export of dry fruits are currently facing a double whammy. On one hand, goods worth crores of rupees are stuck in the middle of the sea and on the other hand, the pressure from banks and lenders is increasing.

Ashok Tiwari, Managing Director of Pashupati Industries, shared his ordeal in a conversation with ‘ABP News’. Tiwari told that his institute does business of dry fruits worth about Rs 15 to 20 crore every month. It includes high quality dates, figs, pistachios, almonds and dried dates mainly coming from Iran and Gulf countries. He had ordered a large consignment just before the war started, which is now in limbo.

Trade route disruption and container crisis

Giving information about the trade route, Ashok Tiwari said that all the goods from Gulf countries come to India through containers. But due to the war situation, the strategically important Strait of Hormuz has been closed. Due to this blockage, 40-45 containers filled with their dry fruits are currently stuck at ‘Bandar Abbas’ port of Iran and ‘Jabal Ali’ port of UAE. The situation is such that neither the goods are moving forward nor are there any indications as to when it will increase.

Impact on the economic cycle system of dry fruit business

Talking about the complexities of the dry fruit business, he said, “We use our savings, borrowings from fellow traders and bank loans to place orders worth crores. This is a rolling cycle which runs every month. But due to non-delivery of goods, this cycle has been completely broken. Now the situation is such that the traders from whom we had taken the money are in default and the banks are also demanding their instalment.”

Appeal from traders and fear of rise in prices in the market

Ashok Tiwari not only sources goods from countries like Dubai, Saudi Arabia, Iran and Afghanistan and sells them in the APMC market of Navi Mumbai, but also supplies it all over India. Making a heartfelt appeal to the government, he said, “The condition of many traders like me in the market is bad. Our money is stuck in the goods and on top of that the interest is increasing. I request the government to give us extra time to repay the bank loans in this time of crisis, so that we can get some help.”

At present, due to this uncertainty in the dry fruit market, there is a possibility of a huge rise in prices in the coming days, which will have a direct impact on the pockets of the general public.