The Economic Times

Iran unrest delays India's 2,000 cr basmati rice export dues; exporters eye new markets

Indian basmati rice exports are facing a significant setback as payments worth approximately 2,000 crore are stuck as protests in Iran have halted trade. Iran, a major buyer, is unable to remit payments or honor contracts. This disruption is causing uncertainty for exporters, impacting basmati rice prices in India's wholesale markets.