Iran unrest hits basmati rice exports, prices fall sharply as payment delays mount: Industry body
New Delhi (PTI): Civil unrest in Iran has started impacting India's basmati rice exports to the country, leading to a sharp fall in domestic prices, as exporters face payment delays and mounting uncertainties, an industry body said on Tuesday.
The Indian Rice Exporters Federation (IREF) urged exporters to reassess risks on Iranian contracts and adopt secured payment mechanisms, warning against over-leveraging inventories meant for the Iranian market.
India exported USD 468.10 million worth of basmati rice to Iran during April-November of 2025-26 fiscal, totalling 5.99 lakh tonnes, trade data showed.
Iran is India's top basmati rice export destination, but the current financial year has seen growing stress on order flows, payment cycles, and shipment schedules due to the prevailing instability.
The impact is now clearly visible in domestic mandis. Over the past week alone, prices of key basmati varieties have registered a steep decline, reflecting buyer hesitation, delayed contracts and heightened risk perception among exporters.
The domestic price of basmati rice variety 1121 has come down to Rs 80 per kg from Rs 85 per kg last week, while varieties 1509 and 1718 declined to Rs 65 per kg from Rs 70 per kg.
ALSO READ: Woman’s video of crossing busy Bengaluru road goes viral, calls it "negotiating with destiny"
"Iran has historically been a pillar market for Indian basmati. However, the current internal turmoil has disrupted trade channels, slowed payments and dented buyer confidence," IREF National President Prem Garg said in a statement.
He said exporters must exercise heightened caution, particularly with respect to credit exposure and shipment timelines.
Importers have conveyed their inability to honour existing commitments and remit payments to India, creating uncertainty for exporters, the federation said.
IREF has issued an advisory and appealed to stakeholders to diversify into alternative markets across West Asia, Africa and Europe to cushion any prolonged slowdown in Iran-bound shipments.
"We are not sounding an alarm, but urging prudence. In periods of geopolitical and internal instability, trade is often the first casualty. A calibrated approach is essential to protect both exporters and farmers," Garg noted.
US Tariff Concerns
The federation also addressed concerns over the recent remarks by US President Donald Trump, indicating that countries continuing trade with Iran may face a 25 per cent tariff.
IREF clarified that Indian rice exports to the US are already subject to a 50 per cent tariff, up from 10 per cent earlier.
Despite this, Indian rice exports to the US have remained resilient. India exported 2,40,518 tonnes of Basmati and non-Basmati rice to the US during April-November 2025-26, compared to 2,35,554 tonnes in the entire 2024-25 fiscal.
The US is the 10th largest market for Indian rice globally and the fourth largest for Basmat rice.
"There is limited clarity on whether the proposed 25 per cent tariff would be levied over and above the existing 50 per cent duty," the federation noted, adding that it does not foresee a significant decline in exports even if tariffs rise further, given the unique position of Indian Basmati in global markets.
However, IREF expressed greater concern over developments in Iran, where disruptions in local markets have affected trade settlements. Importers have conveyed their inability to honour commitments and remit payments to India, creating heightened uncertainty.
While similar crises have occurred in the past, the trajectory of the current situation remains unclear and is expected to cause further disturbances in prices, liquidity, and trade sentiment in the weeks ahead, the federation added.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Allahabad HC orders police protection to married couple apprehending 'honour killing'
Prayagraj (PTI): The Allahabad High Court has granted protection to a married couple who expressed fear that they may be killed by the woman's family.
The order was passed by a division bench comprising Justice JJ Munir and Justice Tarun Saxena on March 25.
"No individual can make an 'honour issue' out of a consenting adult marrying a person of their own choice. It is the state's duty to protect the life, limb, and property of such persons even against their own family members," the bench said.
The court was hearing a petition filed by Prachi Agrawal and her partner, who sought relief in connection with an FIR filed under Section 87 of Bhartiya Nyaya Sanhita (BNS) for kidnapping, and abducting or inducing a woman to compel her marriage.
The couple submitted that they married at an Arya Samaj temple and possessed a marriage registration certificate issued under the Uttar Pradesh Marriage Registration Rules, 2017.
The petitioners alleged that the woman's family members were averse to their marriage and lodged a bogus FIR against them.
The couple further submitted a joint affidavit expressing apprehension of an honour killing by the woman's family.
The court said that a prima facie case was made out and issued notice to the private respondent and granted two weeks to file a counter-affidavit.
Meanwhile, as an interim measure, the court granted the petitioners protection from arrest.
The court also explicitly ordered the woman's family members and relatives not to harm the petitioners, enter their matrimonial home, or establish contact with them directly or through any electronic means.
The bench directed the Aligarh senior superintendent of police to ensure that no harm comes to the couple and posted the matter for hearing on April 8.
