# How the US move on Iran oil could hit India's basmati rice exports | Economy & Policy News - Business Standard

> The US decision to end sanctions waivers on Iranian oil from May 2 could cut India's crude imports from Iran, which were 23.6 MT in 2018-19. The article also notes Iran takes 32% of India's basmati rice exports, which could fall if trade with Iran is disrupted.

- Date: 2019-05-01 · published 2019-05-01T12:00:00.000Z
- Category: geopolitics · region Iran · magnitude medium
- Page: https://feedsoft.ai/events/59033-how-the-us-move-on-iran-oil-could-hit-india-s-basmati-rice-exports-economy-and
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Loss of the Iranian basmati market would reduce rice export demand and pressure Indian rice prices, while higher replacement crude costs add to energy costs.

## Read by commodity

- RICE: bearish ▼
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2026-03-05 | [How West Asia conflict has hit India’s rice exports, left thousands of containers stuck at ports \| Explained News - The Indian Express](https://feedsoft.ai/events/12572-how-west-asia-conflict-has-hit-india-s-rice-exports-left-thousands-of.md) | +5.1% | +8.1% |
| RICE | 2019-02-12 | [Gulf threats could put the mockers on India’s grand new agri-export policy](https://feedsoft.ai/events/60566-gulf-threats-could-put-the-mockers-on-india-s-grand-new-agri-export-policy.md) | -3.9% | +2.1% |
| RICE | 2020-02-29 | [Coronavirus in Iran takes a toll on basmati exports, domestic prices fall \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/54551-coronavirus-in-iran-takes-a-toll-on-basmati-exports-domestic-prices-fall.md) | -4.7% | +3.4% |
| 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 | 2020-01-13 | [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% |
| BRENT | 2026-03-01 | [How the attack on Iran could impact the global oil market and economy](https://feedsoft.ai/events/20773-how-the-attack-on-iran-could-impact-the-global-oil-market-and-economy.md) | +31.0% | +62.6% |
| BRENT | 2019-04-22 | [Explained: Impact of crude oil price rise on the Indian rupee \| Explained News - The Indian Express](https://feedsoft.ai/events/59885-explained-impact-of-crude-oil-price-rise-on-the-indian-rupee-explained-news-the.md) | +0.4% | +2.4% |
| BRENT | 2019-06-20 | [Oil prices surge after Iran shoots down US drone \| Business and Economy \| Al Jazeera](https://feedsoft.ai/events/12319-oil-prices-surge-after-iran-shoots-down-us-drone-business-and-economy-al-jazeera.md) | +7.0% | +2.1% |

## Sources

- business-standard.com: https://www.business-standard.com/article/economy-policy/how-the-us-move-on-iran-oil-could-hit-india-s-basmati-rice-exports-119050100236_1.html

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