India’s basmati rice exports to Iran might take a hit if the ongoing conflict with Israel persists for long and a diplomatic standoff in the host country leads to coercive measures like trade sanctions, traders said.
Iran is a major destination for India’s basmati rice exports and accounts for almost 700,000–800,000 tonnes per annum out of the total exports of 4–6 million tonnes. Earlier, India used to export around a million tonnes of basmati rice to Iran every year.
