Indian rice exporters are seeking urgent government support to mitigate the impact of shipping disruptions caused by the Iran crisis and instability in key maritime routes. The disruptions have led to increased freight rates, insurance premiums, and fuel costs, impacting domestic prices and exporter profitability.
The Indian Rice Exporter's Federation (IREF) on Tuesday urged the government to provide tax incentives, interest subvention and freight support in the upcoming 2026 Budget to strengthen the sector's competitiveness while addressing sustainability concerns.
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.
US President Donald Trump has said that India should not be "dumping" rice into the United States market and he will "take care" of it, while stressing that tariffs will solve the "problem" easily.
Rice exporters have requested the Centre for a flat export duty of $80 per tonne for parboiled rice instead of the current 20 per cent duty to smoothen trade, a top official of the rice exporters' umbrella body said on Sunday. The Indian Rice Exporters Federation (IREF) has also requested the government to reconsider its export ban on white rice which was imposed in July and reduction in the minimum export price for basmati rice to $850 per tonne to prevent negative impacts on both export volumes and farmers. On Friday, the government had extended the 20 per cent duty on parboiled rice exports until March 24.
Housing finance leader HDFC's bid to cash in on India's booming real estate got a boost with the government on Thursday allowing a global realty fund sponsored by it to invest up to $720 million (Rs 3,240 crore) in the country.
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