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Commodity Market, Commodities News Today | The HinduBusinessLine

Basmati exporters urge govt to suspend ₹83/tonne levy amid delayed payment, shrinking margin India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy BALCO deploys AI humanoid agent for real-time training, operations and safety NSE gets MCA approval to launch National Coal Exchange of India Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Iranian crude returns to India after seven years as tankers dock at key ports India's March palm oil imports fall 19% to three-month low Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns Sharp fall in prices hit gold ETF inflows in March India to continue buying Russian crude oil Gold futures drop ₹1,363 to ₹1,52,071/10g India targets 30 lakh PNG connections amid LPG supply concerns Crude oil futures rise on Hormuz disruptions, Saudi attack reports Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% No LPG shortage in country, vessels continuously coming to India via Hormuz: Petroleum Secretary Neeraj Mittal Russia offers sanctioned LNG to energy-hungry Asia at a discount Crude oil futures rise after Israeli attacks on Lebanon West Asia Conflict: Natural gas allocation to fertiliser sector upped to 95% Oil and Gas prices plunge after US and Iran agree to a ceasefire US ceasefire may boost LPG, LNG supplies to India in short term Natural Diamond Council celebrates ‘World Diamond Day’ India set to get first Iranian crude oil cargo in 7 years Crude oil futures crashes 6% to hit lower circuit as US-Iran ceasefire cools tensions Gold rises to near three-week high as Trump pauses attacks on Iran India’s green energy drive faces critical minerals hurdle amid global race Oil plunges, stocks surge as US-Iran ceasefire sparks global market rally Freight surge, logjam hurts egg exports despite strong demand Sugar consumption in April may fall by 2 lakh tonnes on cool weather and LPG scarcity Industry body urges Maharashtra to retain inspector-free fertilizer policy Government amends mining rules to boost critical mineral exploration and self-reliance Silver futures decline ₹1,479 to ₹2.31 lakh/kg as geopolitical risks lift inflation outlook IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu India returns to buying Venezuelan crude to ease supply crunch Crude oil futures hit record ₹10,888/barrel; 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silver down 9% Tanker carrying Iranian crude oil shifts course from India to China Oil prices surge while Asian share prices rise moderately Trump to reduce steel, aluminum tariff rates for derivative products, sources say West Asia conflict erodes Qatar’s share in India’s LNG imports to record low in March India procures 6% more rice from farmers in 2025-26 kharif marketing season OPEC+ likely to weigh further oil output hike on Sunday, sources say Reliance SEZ refinery exempt from diesel, ATF export tax: Govt OMCs face losses as crude tops $100 while fuel prices remain unchanged
Basmati exporters seek relief as shipping lines levy charges amid disruption due to war
2026-04-03 · via Commodity Market, Commodities News Today | The HinduBusinessLine

The Basmati Rice Farmers and Exporters Development Forum has written to the Indian government seeking its intervention, saying that despite multiple representations made by exporters and industry bodies to shipping lines, no meaningful response or corrective action has been taken. The plea comes as shipping charges of stranded consignments , on high sea and ports have multiplied. It pointed out that exporters are facing risks of contractual defaults, cancellation of orders, deterioration of cargo quality, particularly in the case of food products.

In a letter to APEDA chairman, BFDF’s chairperson Priyanka Mittal said that the current situation constitutes a national trade crisis rather than a mere commercial dispute between private parties. “In the absence of such intervention, exporters are likely to suffer significant financial losses, disruption of business operations and long-term erosion of international trade relationships, the consequences of which may extend well beyond the present crisis,” she said.

She has sought “directions and/or advisory” from the government to all shipping lines, port authorities, terminal operators and Inland Container Depots to recognise the present situation as a force majeure event with effect from March 1 and so that detention, demurrage and storage charges on all containers destined for affected West Asian countries are immediately waived and suspended.

War risk surcharge

“We also request that appropriate regulatory directions be issued to prohibit the retrospective application of War Risk Surcharge (WRS), and to ensure that any such surcharge, if applicable, is implemented strictly on a prospective basis with adequate prior notice and reasonable timelines for compliance,” she said.

The exporters body said that shipping lines be directed not to impose any ‘arbitrary’ or crisis-induced charges, “including but not limited to change of destination (COD) charges, manifest amendment charges, or any ancillary penalties” arising out of the present situation.

Mittal has also requested the government help for “immediate release and/or return of containers” without linking to the payment of disputed charges for which she has suggested a joint task force comprising relevant government authorities, shipping lines and exporter bodies be set up.

Not legally tenable

Exporters said that they had fulfilled all contractual obligations by completing stuffing and gate-in of containers before the disruption, but shipments were halted due to the suspension of services by shipping lines, leaving cargo stranded under their custody.

The industry body contends that shipping lines cannot legally impose charges for delays resulting from their own operational decisions or external geopolitical developments.

Pointing out that financial impact has been severe, particularly for micro, small and medium enterprises (MSMEs), many of which depend heavily on the Gulf markets. The letter has cited an instance where a large exporter has been charged around ₹30 lakh in detention fees alone by a global shipping major.

Published on April 3, 2026