As Middle East turmoil persists, basmati exporters from Punjab and Haryana face fresh trouble with cargo vessels seeking offloading of consignments and insurers withdrawing cover for over 4 lakh tonnes of basmati worth ₹3,500– ₹4,000 crore (approx $40milion) in transit. A basmati exporter pegged losses to nearly ₹7,500 crore due to stock of premium grain being stuck at different unknown location and the scenario. According to the data from the Agricultural and Processed Food Products Export Development Authority (APEDA), India exports 70% basmati grain to the Middle East, and a major share belongs to Iran. The annual trade is worth over ₹50,000 crore. According to Ranjit Singh Jossan, vice-president of rice exporters association, the rising geopolitical tensions have disrupted global maritime transportation, leaving Indian exporters grappling with unprecedented challenges. “Almost all major international shipping lines have suspended fresh bookings. Vessels transiting through the Arabian Sea and the Indian Ocean toward various global destinations have reportedly begun offloading containers at intermediary foreign ports instead of proceeding to their final destinations,” he said. He claimed that companies …