Basmati prices may fall 5–10% as Strait of Hormuz closure hits exports
- Posted on June 21, 2026
- By Business News Today
- 0 Views
- 1 min read
Basmati prices may fall 5–10% as Strait of Hormuz closure hits exports
"After the interim (US-Iran) peace deal was announced, exporters started buying basmati rice in good quantities for shipment to the Middle East and prices surged 15-20%. But this sudden announcement will bring down prices," said Dev Garg, vice-president, Indian Rice Exporters Federation.
