India rice exporters reduce freight costs by 74% for Iraq shipments

Indian rice exporters have achieved a 74% reduction in freight costs for bulk shipments to Iraq by utilizing innovative logistics. Through an initiative by the Indian Rice Exporters’ Federation (IREF) and Eximwala, 102,210 metric tonnes of basmati rice were transported to Umm Qasr Port via three vessels. This shift from standard shipping to bulk arrangements lowered freight rates from US$350 to US$90 per tonne, resulting in estimated gross savings of approximately US$26.6 million.

This logistical success occurs alongside a rise in India’s rice export earnings, which grew 12.9% to Rs 45,739 crore during the April-August 2026 period. Basmati rice exports contributed Rs 22,864 crore, an 11.6% increase, while non-basmati exports rose 14.2% to Rs 22,874 crore. West Asia remains a critical market, accounting for roughly 70% of India’s total basmati export volume, with major importers including Saudi Arabia, Iran, Iraq, and the United Arab Emirates.