# Coronavirus in Iran takes a toll on basmati exports, domestic prices fall | Commodity - Food & Edible Oils - Business Standard

> Iran has halted Indian basmati shipments after reporting coronavirus deaths, adding to strain from US-Iran tensions. Basmati prices on the ICEX exchange have fallen, and exports are already down 18-20% this fiscal year.

- Date: 2020-02-29 · published 2020-02-29T12:00:00.000Z
- Category: geopolitics · region India · magnitude medium
- Page: https://feedsoft.ai/events/54551-coronavirus-in-iran-takes-a-toll-on-basmati-exports-domestic-prices-fall
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Loss of Iran, a top basmati destination, leaves Indian exporters with surplus supply and lower prices, which pressures global rice prices.

## Read by commodity

- RICE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2019-05-01 | [How the US move on Iran oil could hit India's basmati rice exports \| Economy & Policy News - Business Standard](https://feedsoft.ai/events/59033-how-the-us-move-on-iran-oil-could-hit-india-s-basmati-rice-exports-economy-and.md) | +3.6% | +14.0% |
| RICE | 2026-03-04 | [Basmati rice prices fall in local market as Iran war disrupts exports - The Economic Times](https://feedsoft.ai/events/12574-basmati-rice-prices-fall-in-local-market-as-iran-war-disrupts-exports-the.md) | +3.1% | +7.5% |
| RICE | 2018-08-06 | [US sanctions on Iran cast shadow on Indian exports - The HinduBusinessLine](https://feedsoft.ai/events/63495-us-sanctions-on-iran-cast-shadow-on-indian-exports-the-hindubusinessline.md) | -8.2% | -5.8% |
| RICE | 2020-01-06 | [Suspend basmati rice exports to Iran till situation improves: Trade body advisory to members – Firstpost](https://feedsoft.ai/events/55051-suspend-basmati-rice-exports-to-iran-till-situation-improves-trade-body.md) | +0.6% | +4.4% |
| RICE | 2020-01-13 | [AgroPages-Tensions between US and Iran hit Basmati rice export-Agricultural news](https://feedsoft.ai/events/55158-agropages-tensions-between-us-and-iran-hit-basmati-rice-export-agricultural-news.md) | +3.4% | +4.7% |

## Sources

- business-standard.com: https://www.business-standard.com/article/economy-policy/coronavirus-in-iran-takes-a-toll-on-basmati-exports-domestic-prices-fall-120022900444_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.