Certainly! It appears that Indian tea and basmati rice exporters have decided to halt exports to Iran, Israel, and other Middle Eastern countries due to escalating geopolitical tensions between Iran and Israel1. The situation has led to concerns among exporters, prompting them to hold back shipments to the region. Here are some key points:

1. Tea Exports to Iran:

Indian tea exporters have stopped shipping teas to Iran.

The geopolitical situation in the region is uncertain, and shipping companies are avoiding the area until conditions improve.

Initial hopes for exporting 40-45 million kg of orthodox tea to Iran have been affected by the tension.

2. Basmati Rice Exports to Iran:

Basmati rice is another agri-commodity that Iran imports from India.

In FY24, India exported one million kg of basmati rice to Iran out of its total exports of 4.9 million kg.

However, due to the current geopolitical tension, basmati rice exporters have put their exports on hold.

The waiting time at Indian ports has increased for basmati rice exporters, and insurance companies are reluctant to extend coverage for exports to Iran.

The situation remains uncertain, and exporters are adopting a wait-and-watch approach. The halt in exports reflects the impact of geopolitical events on trade relations between countries in the West Asia region2.

Please note that this information is based on recent developments, and the situation may evolve further.
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