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News India Live, Digital Desk: Basmati of RS Pura of Jammu, which is considered the ‘King of Rice’ all over the world for its unmatched fragrance, is currently in deep trouble. The increasing military tension between Iran, Israel and the US has made maritime trade routes unsafe. due to this millions of tons of basmati rice Either stuck at ports or trapped in containers in the middle of the sea.
How did the war stop the growth of aromatic rice?
Shipping Routes Closed: Exports via the Red Sea and Suez Canal have almost stopped. Cargo ships are not taking the risk of passing through a war zone.
Huge jump in freight rates: Freight Rates and Insurance Premiums Due to War 200% to 300% Due to which export is now proving to be a loss-making deal.
Fear of payment getting stuck: Most of India’s trade with Gulf countries is done on ‘credit’. In case of war, exporters fear that their old payments may also get stuck.
Double blow to farmers and businessmen
The farmers of RS Pura had expressed hope of record production this year, but due to stoppage of exports, the prices of Basmati have started falling in the local markets.
Market decline: Basmati prices in last one week ₹500 to ₹800 per quintal A decline of up to.
Warehouse Full: Due to lack of export, the warehouses of rice mills and traders are filled, due to which the ability to purchase new goods is being lost.
Request for help from the government
The All India Rice Exporters Association (AIREA) has sought intervention from the Commerce Ministry. Exporters say that if the war prolongs, not only will the current season be damaged, but India’s share in the international market may also be affected.