India’s Rs 34,284-crore Basmati trade gets a logistics boost with Iraq shipping plan
IREF has introduced a bulk-shipping initiative aimed at cutting freight costs for Basmati rice exports to Iraq. This initiative will lower costs from USD 350 to USD 90 per tonne, significantly improving competitiveness in the Middle East market. The collaboration with Eximwala Solutions Pte. Ltd. involves bulk shipments totaling 1,02,210 metric tonnes. The initiative is part of efforts to…
The Indian Rice Exporters Federation (IREF) has introduced a bulk-shipping plan to cut freight costs for Basmati rice exports to Iraq, significantly lowering the price from $350 to $90 per tonne, according to a press release. This move is expected to boost India's competitiveness in the Middle East market, where Basmati exports reached Rs 34,284 crore in the fiscal year 2025-26.
The initiative, carried out with Singapore-based Eximwala Solutions Pte. Ltd., involves shipping 102,210 metric tonnes of Basmati rice in three vessels to Iraq. The new shipping arrangement aims to slash costs by around $260 per tonne, resulting in an estimated savings of $26.6 million for the proposed shipment volume. Iraq alone imported around 7.64 lakh tonnes of Indian Basmati rice in FY 2025-26, highlighting the significance of maintaining competitive shipping arrangements for Indian exporters.
IREF National Vice President Dev Garg emphasized that rising shipping costs directly impact India's competitiveness in the Middle East market, which accounts for nearly 70% of India's Basmati exports. The initiative aligns with IREF's broader vision of reducing trade costs and strengthening India's position in global rice exports, ahead of the Bharat International Rice Conference (BIRC) 2026 in New Delhi.
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