MUMBAI (Commodity Online): Even though Iranian authority rejected the allegation of contaminated basmati rice from India on the basis of local news reports, the exports have been sluggish to Iran due to the prices disputes with old contracts.
Indian basmati rice exporters are negotiating with Iranian counterparts over old contract prices. Indian exporters are ready to sell at $900-$1,000 per metric tonne or about $400 a ton lower than earlier contracted prices. Trading platform that even a 5 year old can trade. Join now
Last month, Iranian authorities said it had found Indian basmati to be safe for human consumption, despite some adverse reports in local newspapers. But the controversy and the price disputes have slowed Indian exports to the country, a major export market.
However, the price issue has not affected the newly sown crops. The exports of new contracts are active as usual, said an exporter.
Source : Commodityonline.com