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Basmati rice exports to Iran are likely to resume as the country has lifted its ban on imports from India and indicated that it will make payments of over Rs 1,700 crore to Indian exporters which have been due since last year.The lack of an effective payment system has hit trade with Iran, which is the largest importer of Indian basmati rice and absorbs about one-third of this variety.
Indian exporters face container shortages due to trading inconsistency.The waiting time to obtain containers for exports has increased for Indian traders because of import/export mismatch. A sudden increase in exports from China is considered to be the main reason behind this delay. Earlier the wait time was 4 weeks to procure a container, with the delay now, the time has escalated to 3-4 weeks.
Edible oil prices, which have increased by 20% to 40% during the past couple of months, are expected to stay firm at least till January despite subdued demand amid the pandemic, mainly due to supply-side disruptions.The government is cautious about reducing import duties to check the inflationary trend in edible oils at a time.when many domestic farmers are sowing mustard crops even as a part of the liquidity pumped into the economy by various governments during the pandemic has gone…
Low water allocations and severe drought-like conditions have led to an extremely dry environment, to sow rice, at the Murray-Darling basin in Melbourne, Australia. This incessant situation has slumped the rice output to more than 90%, since the 2017-18 season. Its national output in the current year is expected to record a new low since 2007-08 of 57,000 tones, according to Australian government forecasters.