Basmati prices dip 6% as Middle East conflict halts exports
Basmati rice prices in India have slipped by 5-6% after the Middle East conflict paused exports to a region that buys half of India's ₹50,000 crore annual shipments.
With about 400,000 tons now stuck at ports or in transit, this could increase domestic supplies.
Iran takes in 40% of India's basmati exports
Iran alone takes 40% of India's basmati exports, so the fighting has hit hard—leaving huge shipments stranded.
Dev Garg from the Indian Rice Exporters Federation shared that prices have already fallen 6% since things escalated and warned they could dip further if the situation drags on.
What's happening with basmati prices?
After a brief price jump in February thanks to high demand, basmati rates are now steady or slipping: Golden Sella is at €0.97/kg (down €0.02 this week), Steam PR11 at €0.47/kg, and Isteam Sharbati at €0.64/kg.
Exporters expect another drop soon, citing export disruptions and large stocks—so if you love biryani, you might be seeing lower prices ahead.