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Iran tax may impact KRBL, LT Foods

| Updated on July 30, 2014 Published on July 30, 2014

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Basmati exporters such as KRBL and LT Foods may come under pressure at the bourses as Iran, the largest buyer of Indian aromatic rice, hikes the import duty to 40 per cent from 20 per cent now. The impact on KRBL could be more severe as basmati rice contributed ₹1,157 crore to its total turnover of ₹1,189 crore. Iran, a major buyer of basmati rice, had imported 14 lakh tonnes in FY14. Besides the hike in import duty, Iran has also introduced a new set of standards.

Published on July 30, 2014
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