Nashik: The impact of the war-like situation unfolding in the United States is no longer confined to the Middle East but is now being felt in India as well. Rising geopolitical tensions are likely to deal a significant economic blow to the country, particularly to Maharashtra’s agricultural sector.
Against the backdrop of the conflict, maritime traffic through the Hormuz Strait has been officially suspended. As a result, for the past two days, vessels bound for Dubai have stopped accepting agricultural cargo. These ships are currently anchored at private yards outside the JNPT Port as a safety measure.
According to official information shared by related associations on social media, containers carrying nearly 200,000 tonnes of rice destined for Gulf countries are stranded. In addition, at least 250 containers of perishable produce, onions, grapes, and bananas exported from Maharashtra are stuck in and around the JNPT port area. Bookings for Dubai have been completely halted over the past two days, with shipping companies refusing to accept any cargo.
If shipping operations do not resume within the next two to four days, exporters may be forced to take back the already procured perishable produce. Expectations of better prices ahead of the Eid festival have now turned uncertain.
Should this produce be diverted to major domestic markets, there are fears of a negative impact on market prices across several states. Until the central or state governments issue an official decision, all containers are being held at private yards, adding to exporters’ financial burden in the form of yard rental charges.
The 250 stranded containers together hold agricultural produce worth several crores of rupees, though detailed estimates are yet to emerge. Exporters are closely watching how the war situation evolves over the next two to three days.
Vikas Singh (Agricultural Exporter) said that, “Due to the war situation, exports of onions, grapes, and bananas have come to a standstill." With the government indicating that exports to Dubai and other countries are currently not possible, uncertainty prevails. There is no clarity on when shipping companies will resume accepting cargo. This delay could severely impact not just exporters, but the entire agricultural sector in Maharashtra.”
Jaydatt Holkar (Director, Mumbai Agricultural Produce Market Committee) commented that “The sudden outbreak of war and the rapidly changing global situation have created widespread anxiety among exporters and traders associated with the Mumbai APMC as well as those in the Nashik district. If no decision on exports is taken within the next two days, there is a high risk of significant losses of perishable goods.”
