The Indian Rice Exporters Federation (IREF) has advised its members to exercise maximum caution while finalising shipping contracts and delivery schedules for rice exports to West Asian countries, following reports of attacks on vessels in the Strait of Hormuz.
In its advisory, the federation urged exporters to carefully assess arrangements involving new vessels and charter parties before committing to delivery timelines with buyers. The warning comes amid concerns that further attacks on vessels carrying Indian cargo could disrupt trade and make it more difficult for exporters to secure ships.
According to IREF, India's current rice exports to West Asian countries stand at around 70–80 tonnes a month, approximately 10% of the shipment levels recorded before the Iran war.
Federation president Prem Garg said any attack on vessels carrying Indian cargo could affect trade and create difficulties in arranging shipping services.
The advisory highlights the potential impact of maritime security concerns on India's rice export trade with the region. Exporters may face challenges in finalising contracts and ensuring timely deliveries if shipping risks increase.
The federation's warning comes as businesses involved in international trade remain cautious about vessel availability and delivery commitments amid reported security incidents along an important regional shipping route.
0 comments
No comments yet. Yours would be the first.