Will we be able to get tea and basmati rice at cheaper rates if Iran has completely halted signing new contracts for importing tea and basmati rice from the country since the last week? If the exports of these commodities, particularly tea, as Iran imports around 30-35 million kg of orthodox tea and about 1.5 million kg of basmati rice in a year from our country remain halted, it’s dumping in the indigenous market could help us to consume at a little lesser prices in wintry season.
There is reportedly no clarity on why has this export abruptly stopped. But one thing is clear if the commodities are brought into the country’s market the consumers would not decline in giving full justice to its wide consumption. This is the query that needs to be thought out. The exporters are also not going to be hardly hit by this idea as they are standing up to the high demand and rise in prices of commodities globally since the Russia-Ukraine war.
The reason for the sudden stoppage, as the Indian exporters believe, was reasonably due to the strong anti-hijab movement across Iran. This is also being delayed on account of India and Iran supposedly working out a rupee trade settlement contract. Can India become an upper-middle-income economy by the end of the decade?
According to the business website Mint, Iran has suddenly stopped importing Indian tea and rice, possibly after India banned the import of certain fruits from Iran. Officials had said that we were surprised by this decision of Iran. Officials said that stopping Indian rice and tea from Iran is not a common phenomenon, because Indian rice is very cheap compared to rice coming from other countries. Iran’s decision has said to be reportedly profound political implications.