Rice exporters have sought urgent government support to mitigate the impact of shipping disruptions triggered by the Iran crisis and instability across key maritime routes, according to a representation submitted by the Indian Rice Exporters Federation (IREF). Bunker fuel costs have also climbed, with marine fuel oil prices rising to around USD 580 per tonne from about USD 520, it said. The disruptions have also weighed on domestic prices, with basmati rice prices falling about 7-10 per cent in the past 72 hours, intensifying working-capital pressures for exporters. "Our exporters cannot absorb abrupt freight, fuel and insurance shocks while shipments are delayed or rolled," IREF vice-president Dev Garg said. He called for time-bound relief measures and clear advisories to safeguard export contracts, cash flows and India's export commitments.

Source: The Telegraph March 05, 2026 11:17 UTC