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The All India Rice Exporters Association advised members not to execute further basmati shipments to Iran until the situation improves. Around Rs 900 crore of payments from earlier exports remains outstanding, and Iran had already withheld payments in 2019 after US sanctions.
A formal trade-body halt on Iran, a key basmati market worth roughly Rs 10,800 crore a year, cuts export demand and could pressure domestic basmati prices.
firstpost.comJan 6, 2020After 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.
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.
