India likely to lose to Pakistan in basmati rice export

NEW DELHI: India is likely to lose out basmati rice exports to Pakistan after Iran fixed its import price at $850 per tonne, which is not viable for Indian suppliers due to higher freight cost, reported foreign media.

As Iran is all set to resume issuance of permits, the Indian exporters have sought a minimum price of $900 per tonne with some calling for $925.

According to an Indian official, it would indirectly benefit Pakistan because of proximity to Iran as transportation cost was higher for India’s exporters.