Wholesale Rice Prices Strengthen Amid Prospects of Rising Exports

13-Apr-2026 12:44 PM

Kolkata: Following the announcement of a ceasefire between Iran and the United States, wholesale market prices for rice have firmed up. Driven by expectations of receiving new export orders—not only from the Middle East and the Gulf region but also from the US and Europe—prices for various varieties and grades of rice in wholesale markets have risen by 7 percent. Prior to this, while the conflict was ongoing, prices had witnessed a decline of up to 6 percent. However, uncertainty regarding the reopening of the Strait of Hormuz still persists.

According to the Indian Rice Exporters Federation, the impact of rising wholesale market prices is expected to become visible in retail rice prices over the next few days.

The conflict between Iran and the US had caused significant disruptions to rice export shipments; consequently, consignments totaling approximately 400,000 tons of Basmati rice were either stranded at Indian ports or stuck at sea. Furthermore, a crisis regarding payments also continued to prevail.

According to a leading analyst, payments amounting to approximately ₹2,000–₹2,500 crore owed to Indian exporters remain stuck. This figure is particularly high in countries like Iran, where issues related to banking and payment settlements persist.

The Chairman of the All India Rice Exporters Association states that consignments of Basmati rice (packed in containers) intended for export are ready at the Kandla and Mundra ports, and shipments are expected to commence shortly. If these shipments are successful and reach their intended destinations, it will provide significant relief to the exporters.