Eight killed as quakes hit far northern Philippines
Manila, Jul 27: Eight people were killed and dozens injured when a series of earthquakes struck islands in the far northern Philippines early Saturday, toppling historic buildings and sending terrified locals fleeing their homes.
The tremors hit the province of Batanes, a group of sparsely populated islets north of the nation's largest Luzon island, tearing deep cracks in roads and forcing the evacuation of a hospital.
Authorities said some of the dead, including two babies under a year old, were crushed by the walls of their own homes.
"We saw houses shaking. Some of the walls of the houses collapsed and fell on the victims," Police sergeant Uzi Villa told AFP.
"Some people died because they were sleeping soundly since it was still early," he added.
Many people were still asleep when the first tremor struck around 4:15 am (2015 GMT Friday), followed just under four hours later by a second, stronger jolt.
The biggest of the quakes of magnitude 5.4 and 5.9 struck within hours of each other, according to the US Geological Survey.
At least three aftershocks followed, which prompted edgy locals to spend hours in town squares waiting for the string of quakes to end.
Authorities said two people were reported missing, though they have not completed a search of the area because debris was blocking some roads.
Raul de Sagon, mayor of worst-hit Itbayat town, told AFP that eight people had been killed and around 100 others were hurt, including seven serious cases that had to be flown out.
Itbayat's hospital was damaged and patients had to be wheeled to safety, while at least one high school and the area's 19th-century church were heavily damaged.
Batanes is pounded every year by tropical cyclones and typhoons that blast through the Philippines and homes are built of stone to survive the annual onslaught.
"We always experience typhoons so houses here are made to withstand strong winds," de Sagon said. "But we were not prepared for earthquakes such as this."
The Philippines is part of the Pacific "Ring of Fire", an arc of intense seismic activity that stretches from quake-prone Japan through Southeast Asia and across the Pacific basin.
The country's most recent deadly quake occurred in April when at least 11 people were killed and a supermarket collapsed in a 6.3-magnitude tremor that hit a region north of the capital Manila.
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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.
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"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.
