Trump's Tariff Announcement Hits Basmati Rice Exporters; Shares Fall
Share Market
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CNBC Awaaz•13-01-2026, 09:43
Trump's Tariff Announcement Hits Basmati Rice Exporters; Shares Fall
- •Donald Trump announced a 25% tariff on countries trading with Iran, impacting Indian Basmati rice exporters.
- •Shares of LT Foods, KRBL, and Chaman Lal Setia Exports fell by up to 3% following the announcement.
- •Iran is India's second-largest market for Basmati rice, with exports totaling 800,000 tonnes worth $753 million in FY25.
- •A 25% tariff on Iran exports and a 50% tariff on America exports will pressure rice exporters.
- •KRBL's export revenue was Rs 1,473 crore in FY25, with 61% of Basmati export revenue from the Middle East.
Why It Matters: Trump's new tariffs on Iran-trading nations caused a significant drop in Indian Basmati rice exporter shares.
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