The Indian Rice Exporters Federation (IREF) said the lifting of a four-month rice import ban by a major buyer—reportedly Iran—will boost Indian rice exports and help offset the impact of the new 25% US tariffs.
Iran, which imports over 1 million tonnes annually, is a significant market for Indian rice; the move is expected to expand trade opportunities and market diversification.
IREF Chairman Prem Garg said India, which currently accounts for over 45% of global rice trade, could raise its share to 55% with the right strategies and support.
Removal of import restrictions by a major Indian rice importer will help boost the grain’s exports and reduce the impact of fresh US tariffs, Indian Rice Exporters Federation said on Monday.
Indian Rice Exporters Federation (IREF) Chairman Prem Garg said that a key international market has decided to remove its four-month ban on rice imports.
"This development is significant as this market is a major importer of Indian rice, with annual imports standing at over 1,000,000 MT, and the removal of restrictions will boost our exports significantly," Garg said.
"This will expand India’s trade options and allow us to diversify into new markets in exciting new ways," he said.
According to media reports, Iran has decided to lift its four-month ban on rice imports to ease domestic prices.
"India currently supplies over 45% of the global rice trade, and with the right support and vision, we can raise our global share to 55%, turning this challenge into a growth opportunity," Garg said.
The association recently stated that the 25% tariff imposed by the US on Indian goods, including rice, will be a "temporary hurdle" and not a major disruption for the sector. Indian rice exports to the US stood around 2.34 lakh tonnes in 2023-24.
IREF represents more than 7,500 rice industry stakeholders comprising exporters and millers.
