Basmati Imports to Pick Up After October
Economy, Domestic Economy

Basmati Imports to Pick Up After October

First quarter numbers for basmati rice imports from India to Iran–the biggest buyer, accounting for a fourth of Indian sales overseas–are yet to be released, but Indian sources say that volumes are likely to pick up only after October even if issuance of import permits may be undertaken from July.
The current delays are due to the Iranian government’s policy of Indian units and exporters being required to be registered with the Tehran’s Health and Medical Education Ministry, wrote Indian newspaper Business Line, adding that the process can only be initiated by an Iranian importer, who has to furnish a list of intended exporters.
“The main factor is the initiation of a new process, which requires Indian mills to be assessed for good manufacturing practices. They will be eligible to export to Iran and it’s a slow process, since few units have got themselves registered so far,” said R Sundaresan, executive director, All India Rice Exporters’ Association.
“Exports to Iran are on, but not at the same quantity or speed as the same time last year. We expect sales to pick up after October, since their own produce is available currently,” he added.
While there is no guarantee of basmati sales gathering pace, the issuing of import licenses should begin next month.
“A resumption of issuing import permits will take place after Ramadan, which is in July,” said AK Gupta, director, Basmati Export Development Foundation, APEDA.
Iran stopped issuing authorizations last October which saw India’s basmati rice exports slide from $1.4 billion in 2013-14 to $600 million last fiscal.
By volume, exports fell from 1.44 million tons to 940,000 over the same period.
India’s Agriculture Minister Radha Mohan Singh met with his Iranian counterpart Mahmoud Hojjati on the sidelines of the UN’s Food and Agriculture Organization conference in Rome earlier this week to enhance agri-cooperation and increase farm trade.


Short URL : http://goo.gl/3rX1Me

You can also read ...

Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
$92m Worth of Gov’t Debts to Be Cleared in Swap Deal
The government has decided to clear over 4.45 trillion rials...
Iran-Lithuania Trade Falls 44% in 2017
Trade between Iran and Lithuania stood at more than €11.1...
Gov’t, Workers, Employers Deadlocked in Setting Minimum Wage
With only a day left for the Supreme Labor Council to set the...