Iran has stopped giving orders for Basmati Rice and premium orthodox tea. Iran is India's largest export market for Basmati rice. Basmati Rice exports were picking up after a two year dull which was impacted due to Covid-19 and US elections. Iran contributes 23.1% of total value of exports of Basmati rice from India. Dealers stated -significant impact may been if geo-political tensions continue. For KRBL growth plans for Iran may be impacted as they had discovered a legal channel for export, however for LT Foods there will be negligible impact as revenue contribution from Middle East region is below 10 percent.
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