India’s Rs 34,284-crore Basmati trade gets a logistics boost with Iraq shipping plan
· Source: economictimes.com
In short
The Indian Rice Exporters' Federation (IREF), with Singapore-based Eximwala Solutions Pte. Ltd., has launched a bulk-shipping initiative to cut freight costs on Basmati rice exports to Iraq by nearly 74%, from about USD 350 to USD 90 per tonne. The plan covers three vessels carrying 1,02,210 metric tonnes, with estimated gross freight savings of roughly USD 26.6 million. The move targets the Middle East, which absorbs nearly 70% of India's Basmati export volume, amid rising freight rates, container shortages and geopolitical disruptions.
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Tags: logistics, freight, shipping, exports, basmati, Iraq