Fluctuations in Commodities Due to Ongoing Global Conflict
03-Mar-2026 08:36 AM
Fluctuations in Commodities Due to Ongoing Global Conflict
Commodities Whose Prices Declined
Rice
Kabuli Chana (Chickpeas)
Spices & Dry Fruits
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Commodities Whose Prices Increased
Crude Oil
Natural Gas
★ Due to the war, commodities that were being exported to Gulf countries are witnessing price volatility and trade disruptions.
★ As per available information, Basmati rice is expected to suffer the biggest setback. Approximately 60,000–70,000 tonnes of rice shipments are stranded on sea routes.
★ Up to January, rice exports reached 5.38 million tonnes, higher than 4.84 million tonnes during the same period last year.
★ The export target for the current season was set at 6.5 million tonnes, which now appears difficult to achieve.
★ Since the conflict has occurred during Ramadan, a peak consumption season, major changes are expected in import-export figures and overall balance sheets.
★ Up to January, India exported 0.79 million tonnes (7.9 lakh tonnes) of Basmati rice to Iran.