US-Iran tensions, coronavirus to pull down rice exports by 20%: Report

Export of rice especially basmati, to Iran, valued at $1.5 billion in 2018-19 financial year, continue to weather uncertainty following US sanctions on its crude oil last year

The US-Iran standoff and the recent coronavirus outbreak in China are among factors which, it is thought, could pull down Indian rice exports by about a fifth this year.

Export of rice, especially basmati, to Iran was valued at $1.5 billion (about Rs 10,500 crore) in 2018-19. It accounts for 25-30 per cent of annual Indian rice shipment. Indian rice export had a compounded annual growth rate (CAGR) of nearly 14 per cent between 2010 and 2019. We account for a fourth of global rice export; it contributes two per cent to the overall Indian export basket.

However, goes a report by