Iran crisis: 60,000 tonnes of basmati rice stuck in ports, exporters seek urgent govt. aid
The Hindu
Exporters seek urgent government aid as 60,000 tonnes of basmati rice remain stuck in ports due to logistics disruptions.
As close to 3,000 containers containing 60,000 metric tonnes of basmati rice remain stuck at various Indian ports, rice exporters have demanded immediate government aid to face the “severe shipping and logistics disruption” due to the war in West Asia.
Maintaining that India’s rice trade with Africa and West Asia together accounts for about half of national rice exports, the exporters urged the Union government to issue an official advisory recognising the current logistics disruption as a “force majeure type” of exceptional circumstances.
Around 90% of total rice exports towards West Asia, worth about ₹25,000 crore annually, is basmati rice and rice exporters told The Hindu that the situation has impacted their business very badly.
Read: Iran-Israel war LIVE
In a letter to Chairman of the Agricultural and Processed Food Products Export Development Authority (APEDA) Abhishek Dev, the Indian Rice Exporters Federation said the government must issue an official advisory or notification recognising the current disruption as a force majeure type of exceptional circumstance.
“This will ease contractual performance issues and reduce undue pressure from buyers in the form of forced price reductions, penalties, or unilateral cancellations for circumstances beyond exporters’ control. It will also support exporters’ discussions with buyers, banks, insurers and logistics partners,” the letter said.
Exporters seek urgent government aid as 60,000 tonnes of basmati rice remain stuck in ports due to logistics disruptions.
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