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Karnal-based basmati exporters have stopped shipping to Iran until the situation normalises, and will only sell against advance payment or letters of credit. Exporters are owed about Rs 1,400 crore by Iran, and Iranian shipments were far below last year's levels.
Halting shipments to a major basmati buyer and requiring prepayment reduces Indian rice export volumes and could weigh on Haryana farm-gate prices.
etvbharat.comETV BharatJan 17, 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.
