◂ Event Timeline

Jan 8, 2020GEOPOLITICSIndia

US-Iran crisis hits rice exporters, hundreds of containers struck at Gujarat port

Indian rice exports to Iran stalled after US-Iran tensions rose following the killing of General Soleimani. A shipment of hundreds of containers was stopped at Mundra port in Gujarat, and exporters have halted the second shipment.

WHY IT MATTERS

Iran is a major buyer of Indian basmati, so the halted shipments remove a large export outlet and weigh on basmati prices.

AFFECTSRough Rice▼

SOURCE
indiatoday.inManjeet SehgalJan 8, 2020

Price reaction & history

Rough Rice▼bearishSO FAR1d 0.0%5d +1.7%20d +5.5%

After 13 past bearish geopolitics events, Rough Rice moved a median +2.0% over 5 sessions (77% higher; middle half +0.6% to +3.4%), and +4.7% over 20.

Mar 5, 2026How West Asia conflict has hit India’s rice exports, left thousands of containers stuck at ports | Explained News - The Indian Express+5.1%
May 1, 2019How the US move on Iran oil could hit India's basmati rice exports | Economy & Policy News - Business Standard+3.6%
Jan 17, 2020Karnal to stop rice export to Iran+1.9%
Jan 13, 2020AgroPages-Tensions between US and Iran hit Basmati rice export-Agricultural news+3.4%
Nov 2, 2022US rice sales to Haiti dip amid political crisis, historically high prices | S&P Global+2.0%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Rough Rice RICE · GP ▸

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