Rice exporters worried about US-Iran tensions
Indian rice exporters have expressed concerns over the escalating tensions between US and Iran. They are already facing a crisis as payments of upto Rs 900 crore are pending from Iran since May 2019. Iran is the largest consumer of Indian aromatic long-grained basmati rice and it accounts for about 25% of India’s total rice exports, amounting to 4.5 million tonne every year. All India Rice Exporters Association (AIREA ) president Nathi Ram Gupta said, “The growing tension between Iran and US will definitely affect India’s rice industry as traders are worried about exports to Iran.” Further tensions could also lead to a depression in paddy prices.