Indian Rice Exporters Federation (IREF) Chairman Prem Garg said that a key international market has decided to remove its four-month ban on rice imports.
“This development is significant as this market is a major importer of Indian rice, with annual imports standing at over 1,000,000 MT, and the removal of restrictions will boost our exports significantly,” Garg said.
“This will expand India’s trade options and allow us to diversify into new markets in exciting new ways,” he said.
According to media reports, Iran has decided to lift its four-month ban on rice imports to ease domestic prices.
“India currently supplies over 45 per cent of the global rice trade, and with the right support and vision, we can raise our global share to 55 per cent, turning this challenge into a growth opportunity,” Garg said. The association recently stated that the 25 per cent tariff imposed by the US on Indian goods, including rice, will be a “temporary hurdle” and not a major disruption for the sector. Indian rice exports to the US stood around 2.34 lakh tonnes in 2023-24.
IREF represents more than 7,500 rice industry stakeholders comprising exporters and millers.
