Chandigarh, March 7 -- 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 Rs.3,500- Rs.4,000 crore (approx $40milion) in transit.

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 Rs.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 unp...