Iran Sanctions Cripple India's Basmati Trade; Rs 2,000 Cr Shipments Stuck

• Indian basmati exports to Iran halted after Tehran withdrew subsidies on food imports, leaving Rs 2,000 crore worth of shipments stuck.
• Iran's decision follows a sharp fall in the Iranian rial against the US dollar, triggered by tightening US sanctions.
• The disruption severely impacts producers and processors in Punjab and Haryana, India’s key basmati-growing states.
• Iran, a major buyer, imported 1.2 million tonnes of Indian basmati annually, valued at Rs 12,000 crore.
• Prices of processed basmati varieties have already fallen by Rs 3–4 per kg, raising concerns for farmers' realisations.

Why It Matters: Iran sanctions and rial crash halt India's basmati exports, leaving Rs 2,000 crore shipments stranded.