New Delhi, Jan. 12 -- Basmati rice stocks like GRM Overseas, Sarweshwar Foods, and Kohinoor Foods fell nearly 3.5% on Monday, January 12, after exports of basmati rice to Iran were hit with uncertainty.

Kohinoor Foods' share price was the biggest laggard among the pack, as it cracked 3.37% to Rs.24.91 apiece. Sarveshwar Foods and GRM Overseas shares plunged over 2% each.

Other basmati rice exporting stocks, LT Foods and KRBL, were also down up to 1.3% in trade today.

Exports of premium basmati rice to Iran are facing renewed uncertainty, impacting farmers and processors in Punjab and Haryana.

The setback comes after a steep depreciation in the Iranian currency following stricter US sanctions. As the rial hit a fresh low against the US...