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Indian rice exporters raise concerns after Iran starts placing orders for basmati from Pakistan

HAIDER

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Iran has started placing orders with Pakistan for basmati rice, raising concerns of Indian basmati rice exporters who have stalled exports to the Gulf nation due to non-payment of their dues worth Rs 1,700 crore. However, exporters see this merely as a temporary blip.

“Yes, we have heard that Iran has placed some order with Pakistan recently. It is nothing unusual. However, Pakistan exports 6 lakh tonnes of basmati rice in the world markets whereas India’s exports stands at 4.4 - 4.5 mi ..
Kaul said that it is a temporary phenomenon and once Iran clears its dues, India will again start exporting to the nation. Iran accounts for 34% of India’s basmati exports to the overseas markets.

Kaul said exporters are anxious about when they get their money back.

“They are extremely worried. Also, if Pakistan gradually increases its presence in Iran, then may be in the long term, it may create some problems for Indian exporters,” he said.

A Crisil study has stated that Iran, which imports around 1.3 million tonne of basmati rice annually, is expected to register 20 per cent lower volume from India as payment-related issues continue from last fiscal because of US sanctions.
India and Iran have been discussing the barter trading system for nearly a year now, ever since the Trump administration began imposing tough economic sanctions on Tehran. Iran has said it will buy basmati rice, sugar and medicines from India in lieu of fertilisers. A final decision is yet to be taken.





Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst
 
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Vapour

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Iran has started placing orders with Pakistan for basmati rice, raising concerns of Indian basmati rice exporters who have stalled exports to the Gulf nation due to non-payment of their dues worth Rs 1,700 crore. However, exporters see this merely as a temporary blip.

“Yes, we have heard that Iran has placed some order with Pakistan recently. It is nothing unusual. However, Pakistan exports 6 lakh tonnes of basmati rice in the world markets whereas India’s exports stands at 4.4 - 4.5 mi ..
Kaul said that it is a temporary phenomenon and once Iran clears its dues, India will again start exporting to the nation. Iran accounts for 34% of India’s basmati exports to the overseas markets.

Kaul said exporters are anxious about when they get their money back.

“They are extremely worried. Also, if Pakistan gradually increases its presence in Iran, then may be in the long term, it may create some problems for Indian exporters,” he said.

A Crisil study has stated that Iran, which imports around 1.3 million tonne of basmati rice annually, is expected to register 20 per cent lower volume from India as payment-related issues continue from last fiscal because of US sanctions.
India and Iran have been discussing the barter trading system for nearly a year now, ever since the Trump administration began imposing tough economic sanctions on Tehran. Iran has said it will buy basmati rice, sugar and medicines from India in lieu of fertilisers. A final decision is yet to be taken.





Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst
Very interesting, wonder how much surplus capacity Pakistan has? We should try to replace India's rice export share to Iran, maybe also able to offer better rates given less distance involved to export too.
 

925boy

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The isolation is getting worse
for who? Iran? not necessarily...we arent even sure exactly what this action by Iran really means...but we know India and Iran arent best friends as some think..their relationship is slowly but politely toning down...and good for Pakistan to move in to take advantage economically.
 

Trango Towers

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for who? Iran? not necessarily...we arent even sure exactly what this action by Iran really means...but we know India and Iran arent best friends as some think..their relationship is slowly but politely toning down...and good for Pakistan to move in to take advantage economically.
Seriously you didn't get that?
Indians ...oh boy
 

Dalit

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LOL RSS hates Muslims and Islam, but wants to trade with Islamic nations. India openly scolds Iran and even begs uncle Sam for regime change. Cunning RSS minions.
 

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