Export of 1.02 Lakh Tonnes of Basmati Rice to Iraq via Three Bulk Vessels

New Delhi: Indian exporters have arranged for the shipment of 102,210 tonnes of Basmati rice to Iraq using three bulk vessels, a move that could result in savings of approximately 74 percent on maritime transport costs. Exporters opted for bulk vessels for sea transport to circumvent challenges such as the shortage of containers and rising shipping costs.

According to the Indian Rice Exporters Federation, the average maritime transport cost for this bulk shipment works out to $90 per tonne, which is $260 per tonne lower than the $350 per tonne cost associated with container transport.

Based on these freight rates, exporters are expected to achieve total savings of approximately $26.6 million on the transport costs for the Basmati rice shipped via these three vessels. However, the final savings will depend on the actual shipping costs and the terms of the contract. Iraq is a major buyer of Basmati rice.