## Company Profile Hermes Travel & Cargo Pvt. Ltd. — freight forwarder based in India. (Website evidence listed in lead memo: https://www.hermescargo.com/) Likely services: international sea and air freight forwarding, customs clearance, project cargo, warehousing, door-to-door logistics and travel services. Market position: small-to-mid sized Indian forwarder serving exporters of agricultural commodities, textiles, and general cargo. Scale: not publicly listed; typical regional operator with office network in Indian export hubs (e.g., Mumbai/JNPT, Mundra, Chennai). ## Pain Points 1) Exporter clients exposed to volatile India–Middle East corridor: war-risk surcharges, schedule unreliability, and payment/insurance friction in H1 2026 mean forwarders must provide alternative routing, flexible contracting (FOB vs CIF) and quicker market access. 2) Perishable and high-value agri clients (seafood, spices, basmati) need timely access to buyers and transparent sourcing/pricing intelligence — Hermes likely lacks an in-house digital channel for matching exporters with verified buyers across Africa/MENA and for managing quotes rapidly. 3) Capacity for small-lot, traceable, compliant shipments (EUDR/MRL requirements for spices/food to EU) strained; Hermes could benefit from a partner who brings verified supplier/buyer matching and execution pipelines. ## Intel Summary === MULTI-DIMENSION RESEARCH === === 1. [MARKET EVENTS] India agricultural exports 2026 – rice, spices, seafood, cashew, with focus on Middle East & Africa === • Overall agri-export performance (FY 2025–26) - India’s agricultural exports in 2025–26 are estimated at about **US$53.1 billion**, up **2.3% YoY**, outpacing total merchandise export growth (0.9%).([freshplaza.com](https://www.freshplaza.com/north-america/article/9836674/indian-fruit-and-vegetable-exports-grow-despite-u-s-tariffs/?utm_source=openai)) - Rice remains the single largest agri export by value (around **24% share** of agri exports), followed by marine products, buffalo meat, spices, and cashew.([southasia.ifpri.info](https://southasia.ifpri.info/files/2026/04/Compiled-v3_compressed-1.pdf?utm_source=openai)) • Rice exports – pressure from West Asia conflict, but volumes still high - Total rice exports in 2025–26: **US$11.53 billion**, down **7.5% YoY**, largely due to shipment disruptions to key Middle East buyers (Iran, Saudi Arabia, Gulf).([business-standard.com](https://www.business-standard.com/economy/news/west-asia-crisis-rice-exports-dip-7-5-to-11-53-billion-in-2025-26-126042300499_1.html?utm_source=openai)) - In March 2026 alone, rice exports were **US$0.99 billion**, a **15% YoY** decline, directly linked to war-related disruptions in West Asia which accounts for ~**70% of India’s basmati exports**.([financialexpress.com](https://www.financialexpress.com/policy/economy/agri-amp-processed-food-exports-rise-just-2-in-fy26/4209582/?utm_source=openai)) - Industry estimates still see India’s **MY 2025–26 rice exports** around **24.5–30 million tonnes**, up roughly **6–7%** YoY in volume terms, due to record production and large government-held stocks; non‑basmati surplus with FCI projected to rise from **28 to 40 million tonnes**.([spglobal.com](https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/092625-interview-indias-rice-exports-likely-to-close-at-30-mil-mt-in-my-2025-26-iref-says?utm_source=openai)) - Trade pattern: • Middle East: Iran, Saudi Arabia, UAE, Iraq remain core basmati markets but are currently facing logistics, payment and scheduling stress; some shift from CIF to FOB contracting to manage war risk.([business-standard.com](https://www.business-standard.com/economy/news/west-asia-crisis-rice-exports-dip-7-5-to-11-53-billion-in-2025-26-126042300499_1.html?utm_source=openai)) • Africa: demand for Indian non‑basmati/parboiled and 5% broken remains solid; Bangladesh and several African buyers have booked government-to-government and private cargoes (e.g., recent **50,000 t** sale to Bangladesh at **US$359.77/t** for 5% broken).([insights.tridge.com](https://insights.tridge.com/speaker-product-news-reports/KJLyFXpzJzgKuB1Gqsm5QUKHGgR43AVdqLMweiavLjbU898p3RgUPiyv?utm_source=openai)) • Spices exports – off the FY25 peak, regional mix changing - India hit a record **US$4.72 bn** in spices exports in FY 2024–25 (+6% YoY), but **FY 2025–26 shows softening**: DGFT/FISS data indicate a **5.3% decline in FY26** value driven by weaker chilli, cumin, fennel exports.([m.in.investing.com](https://m.in.investing.com/news/commodities-news/indias-spice-exports-hit-record-472-billion-in-fy25-4869466?ampMode=1&utm_source=openai)) - Apr–Aug 2025–26 volumes were still **up 21% YoY to ~798,475 t**, but value growth lagged due to price corrections in jeera/chilli.([informistmedia.com](https://www.informistmedia.com/CommodityWire/38770/Spices-export-India-Apr-Aug-spices-export-up-21-37-YoY-at-798-475-tn-jeera-export-down-17-37-?utm_source=openai)) - Regional trends (2026 forward‑looking estimates): • **Middle East**: outlook for **+12% volume/value growth** in 2026, led by cumin, turmeric, cardamom and chilli; UAE works as a re-export hub into wider MENA and East Africa.([home2globaltrade.com](https://www.home2globaltrade.com/blog/indian-spice-export-trends-2026?utm_source=openai)) • **Africa**: categorized as an “emerging” growth region with **+15%** projected demand for affordable bulk spices and commodity blends.([home2globaltrade.com](https://www.home2globaltrade.com/blog/indian-spice-export-trends-2026?utm_source=openai)) • Seafood exports – strong growth with diversification of markets - India’s seafood exports in **FY 2025–26 reached US$8.28 bn**, up **11.2% YoY**, with export volumes at **1.932 million tonnes** (19.32 lakh t).([economictimes.indiatimes.com](https://economictimes.indiatimes.com/news/economy/foreign-trade/seafood-exports-up-11-2-in-2025-26/articleshow/130423199.cms?from=mdr&utm_source=openai)) - Key growth markets: China, EU and Southeast Asia; Middle East (UAE, Saudi Arabia, Egypt) remains important but not the primary driver of FY26 growth.([economictimes.indiatimes.com](https://economictimes.indiatimes.com/news/economy/foreign-trade/seafood-exports-up-11-2-in-2025-26/articleshow/130423199.cms?from=mdr&utm_source=openai)) - Product mix: shrimp continues to dominate; value up **6.35%**, volume up **4.6%** YoY.([economictimes.indiatimes.com](https://economictimes.indiatimes.com/news/economy/foreign-trade/seafood-exports-up-11-2-in-2025-26/articleshow/130423199.cms?from=mdr&utm_source=openai)) • Cashew exports – structurally constrained but Middle East remains key buyer - India processes roughly **25% of global raw cashew nuts**; cashew exports are a smaller share of total agri exports but strategically important and high‑value.([smallworldindia.com](https://smallworldindia.com/blog/cashew-nuts-dryfruits-exports-india?utm_source=openai)) - Cashew kernel exports account for only **~5–6%** of India’s total domestic cashew supply (production + RCN imports), reflecting strong domestic consumption.([apeda.gov.in](https://apeda.gov.in/sites/default/files/2026-04/MIC_February_Monthly_dashboard_Cashew_210326.pdf?utm_source=openai)) - Export destinations: **UAE, Saudi Arabia, Japan, Netherlands, USA, UK, France, Israel, Italy**; Middle East is a core demand cluster for W180/240/320 kernels and value‑added flavoured cashews.([ibef.org](https://www.ibef.org/exports/cashew-industry-india?utm_source=openai)) - Price trends (Jan 2026): Indian cashew kernel export prices around **US$7,900/t**, down **5% YoY**; APEDA/ITC forecasts **sideways prices (US$7,800–8,000/t) for Feb–Apr 2026**, with exports “under pressure” due to high raw material costs versus Vietnam/West Africa.([apeda.gov.in](https://apeda.gov.in/sites/default/files/2026-04/MIC_january_Monthly_dashboard_Cashew_050326.pdf?utm_source=openai)) • Strategic implications for India–Middle East–Africa agri trade (2026) - Middle East remains a premium‑value corridor (basmati, high‑grade spices, cashew kernels, seafood, buffalo meat), but the **current regional conflict is a clear downside risk** for FY 2026–27 rice and spice earnings.([business-standard.com](https://www.business-standard.com/economy/news/west-asia-crisis-rice-exports-dip-7-5-to-11-53-billion-in-2025-26-126042300499_1.html?utm_source=openai)) - Africa’s role is growing mainly as a **volume outlet for non‑basmati rice and bulk spices**, while also being a supplier of raw cashew nuts into Indian processing.([icrier.org](https://icrier.org/pdf/Enhancing-India-s-Agri-Exports-to-Middle-East.pdf?utm_source=openai)) === 2. [COMMODITY TRENDS] Global rice & spice price trends 2026 – India basmati & broken rice export demand === • Global rice balance & India’s supply situation (2025–26) - FAO/Inter‑Rice February 2026 report highlights **strong global rice supplies in 2025**, with Asian harvests contributing to softening world prices. India, Pakistan and Vietnam all saw export price declines in late 2025 and early 2026 as demand weakened and export offers increased.([infoarroz.org](https://infoarroz.org/wp-content/uploads/2026/03/ia0226en-1.pdf?utm_source=openai)) - India’s surplus non‑basmati stocks are substantial: **FCI stocks projected at 40 mt vs 28 mt currently** in MY 2025–26, giving India strong capacity to keep export offers competitive.([spglobal.com](https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/092625-interview-indias-rice-exports-likely-to-close-at-30-mil-mt-in-my-2025-26-iref-says?utm_source=openai)) • Indian non‑basmati / broken rice export prices (Q4 2025 – Q2 2026) - 5% broken **parboiled** rice: • Late April–early May 2026: quoted **US$344–350/t**, up slightly from **US$341–348/t** the previous week on stronger demand and rupee strength.([retail.economictimes.indiatimes.com](https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/india-export-rice-prices-edge-up-on-demand-global-rates-rise-amid-middle-east-tensions/130158688?utm_source=openai)) • Early Jan 2026: prices at **US$355–360/t**, a three‑month high driven by higher paddy costs.([insights.tridge.com](https://insights.tridge.com/speaker-product-news-reports/KJLyFXpzJzgKuB1Gqsm5QUKHGgR43AVdqLMweiavLjbU898p3RgUPiyv?utm_source=openai)) - Market commentary points to **volatility tied to Middle East conflict** (raising freight, fuel and insurance costs) as well as currency moves and competitor pricing from Thailand/Vietnam.([retail.economictimes.indiatimes.com](https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/india-export-rice-prices-edge-up-on-demand-global-rates-rise-amid-middle-east-tensions/130158688?utm_source=openai)) - Export demand: • Bangladesh recently contracted **50,000 t** from India at **US$359.77/t**, showing that at the mid‑US$350s price point India is still competitive in South Asia/MEA corridor.([insights.tridge.com](https://insights.tridge.com/speaker-product-news-reports/KJLyFXpzJzgKuB1Gqsm5QUKHGgR43AVdqLMweiavLjbU898p3RgUPiyv?utm_source=openai)) • Reddit/industry sentiment reports a **7% jump in wholesale Indian rice prices** immediately after a US–Iran ceasefire, attributed to restocking by Middle East and North Africa buyers and expectations of normalized flows.([reddit.com](https://www.reddit.com/r/exportersindia/comments/1siazih/wholesale_rice_prices_jump_7_after_usiran/?utm_source=openai)) • Basmati rice price & demand trends (2025–26) - APEDA February 2026 dashboard shows Indian **Pusa basmati export prices spiking to ~US$1,150/t in Jan–Feb 2026**, up from around **US$925/t**, on strong pre‑Ramadan Middle East demand and tight exporter stocks; prices have subsequently corrected **15–17%** to around **US$900–1,000/t**.([apeda.gov.in](https://apeda.gov.in/sites/default/files/2026-04/MIC_February_Monthly_dashboard_Rice_210326.pdf?utm_source=openai)) - Domestic mandi prices: Haryana mandis report **1121 basmati paddy at ₹3,400–4,600 per quintal** (≈US$410–555/t of paddy), squeezing exporter margins when export prices soften.([tradologie.com](https://www.tradologie.com/blogs/rice-price-today-in-india/?utm_source=openai)) - Short‑term disruption: • Middle East conflict froze a reported **0.2–0.25 mt (200–250k t)** of basmati cargo at Indian ports and caused **5–6% declines in domestic basmati prices** in March 2026.([reddit.com](https://www.reddit.com/r/exportersindia/comments/1rlej3a/basmati_rice_prices_fall_as_middle_east_conflict/?utm_source=openai)) • Some exporters temporarily halted new CIF contracts and shifted to FOB to reduce risk on freight and war‑risk premiums.([reddit.com](https://www.reddit.com/r/u_indiafeast/comments/1rm738e/indias_basmati_rice_exports_have_effectively/?utm_source=openai)) - Medium‑term demand outlook (2026): • Several trade analyses and market blogs indicate that **Middle East, Africa and parts of Europe continue to rely heavily on Indian basmati** given India’s ~70% share of global basmati supply and quality advantages; demand is shifting towards pesticide‑compliant, traceable and “EU‑ready” lots, especially for EU buyers.([reddit.com](https://www.reddit.com/r/u_indiafeast/comments/1sgnufx/pusa_basmati_rice_export_quality_global_demand/?utm_source=openai)) • Overall global rice price direction (2026) - S&P Global expects India’s record production and large exportable surplus to **weigh on global prices in Q1 2026**, re‑shaping trade flows as buyers switch back from alternative suppliers used during India’s 2023–24 export curbs.([spglobal.com](https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/121225-commodities-2026-indias-surplus-rice-supply-to-weigh-on-global-prices-reshape-trade-in-q1?utm_source=openai)) - However, intermittent spikes occur when geopolitical tensions (e.g., Middle East conflict) disrupt logistics and insurance, causing **short‑term rallies of 5–7%** in export and wholesale prices, particularly for basmati and 5% broken parboiled.([retail.economictimes.indiatimes.com](https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/india-export-rice-prices-edge-up-on-demand-global-rates-rise-amid-middle-east-tensions/130158688?utm_source=openai)) • Spices price and demand trends (2026) - Macro picture: spices exports hit **US$4.72 bn in FY25** (+6% YoY) but FY26 is seeing a **5.3% value contraction**, particularly in chilli, cumin and fennel due to oversupply and price corrections.([m.in.investing.com](https://m.in.investing.com/news/commodities-news/indias-spice-exports-hit-record-472-billion-in-fy25-4869466?ampMode=1&utm_source=openai)) - Segment‑wise 2025–26 price/demand behavior: • **Chilli & cumin** – high volatility, recent decline in export realizations; FY26 export value and quantity for fennel fell **46.2%** and **56.7%** respectively.([english.gujaratsamachar.com](https://english.gujaratsamachar.com/news/national/indias-spice-exports-fall-5-3-in-fy26-as-chilli-cumin-shipments-weaken-80217082469.html?utm_source=openai)) • **Pepper & ginger** – firmer; ginger exports up **14.3% in value** and **10.6% in volume**, pepper earnings up **10.1%** despite slight volume drop.([english.gujaratsamachar.com](https://english.gujaratsamachar.com/news/national/indias-spice-exports-fall-5-3-in-fy26-as-chilli-cumin-shipments-weaken-80217082469.html?utm_source=openai)) - 2026 outlook by region and growth rate (Indian spice export trends report): • Middle East: **+12%** expected growth in 2026, demand centered on cumin, turmeric, cardamom and chilli. • Africa: **+15%** expected growth, with focus on lower‑priced bulk spices and blends. • Europe: **+4%**, but under **stricter MRL and sustainability (EUDR/deforestation‑link) requirements**; driving demand for certified, pesticide‑controlled Indian supplies.([home2globaltrade.com](https://www.home2globaltrade.com/blog/indian-spice-export-trends-2026?utm_source=openai)) - Overall commodity trend: move towards **organic, clean‑label, and functional ingredients** supporting price premiums for compliant Indian-origin spices even as commodity‑grade prices remain volatile.([indianspicesexporters.com](https://indianspicesexporters.com/spices-export-market-report-2025-prices-demand-global-trends/?utm_source=openai)) === 3. [TIMING SIGNALS] India container & air freight market 2026 – South Asia to Middle East & Africa (rates, capacity, congestion) === (Note: Reliable, highly granular current freight rate data is mostly paywalled; below synthesizes open commentary, official trade reports, and logistics news from 2025–26.) • Container freight – South Asia to Middle East & Africa (early–mid 2026) - NITI’s Trade Watch (Q3 FY 2025–26) notes that **early 2026 global commodity markets turned “modestly bullish”**, with shipping costs having **come off their post‑pandemic peaks but rising again on Middle East geopolitical risk**.([niti.gov.in](https://niti.gov.in/sites/default/files/2026-04/Trade-Watch-Quarterly-Oct-Dec-Q3-FY-2025-26.pdf?utm_source=openai)) - Sectoral trade press and port‑user commentary (corroborated by rice/seafood exporters) indicate: • **India–Gulf (JNP/ Mundra to Jebel Ali/Dammam)**: – Base short‑sea container rates had normalized through much of 2025, but Q1–Q2 2026 shows **war‑risk surcharges and slightly higher bunker adjustments**, adding roughly **US$100–200/TEU** versus late‑2024 levels on some services. (Directionally inferred from exporters’ complaint about higher shipping/fuel costs for rice cargo.)([retail.economictimes.indiatimes.com](https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/india-export-rice-prices-edge-up-on-demand-global-rates-rise-amid-middle-east-tensions/130158688?utm_source=openai)) – Transit times remain relatively stable (≈4–7 days port‑to‑port), but **schedule reliability has dipped** because of vessel re‑routing and port security checks.([business-standard.com](https://www.business-standard.com/economy/news/west-asia-crisis-rice-exports-dip-7-5-to-11-53-billion-in-2025-26-126042300499_1.html?utm_source=openai)) • **India–East Africa (Nhava Sheva/Mundra to Mombasa/Dar es Salaam)**: – Capacity is **adequate to slightly tight** as carriers redeploy tonnage to higher‑yield Asia–Europe and Transpacific routes; exporters report rounding out bookings earlier, particularly for reefer slots for seafood and perishables.([economictimes.indiatimes.com](https://economictimes.indiatimes.com/news/economy/foreign-trade/seafood-exports-up-11-2-in-2025-26/articleshow/130423199.cms?from=mdr&utm_source=openai)) – Rate levels, while far below 2021–22 highs, remain **elevated vs 2019** due to higher operating costs and limited competition on some India–Africa loops. (Qualitative from NITI and trade watchers.)([niti.gov.in](https://niti.gov.in/sites/default/files/2026-04/Trade-Watch-Quarterly-Oct-Dec-Q3-FY-2025-26.pdf?utm_source=openai)) - Ports and congestion: • Indian gateways central to agri exports – **JNPT (Nhava Sheva), Mundra, Kandla, Visakhapatnam, Cochin, Chennai, Kolkata** – are reported to be operating without major congestion; seafood data show these ports handled **~64% of seafood export value**, implying adequate handling capacity.([reddit.com](https://www.reddit.com/r/exportersindia/comments/1stdewg/indias_seafood_exports_hit_record_72325_cr_in_fy/?utm_source=openai)) • Temporary congestion has been observed around **rice export surges** following ceasefire or relaxation of trade restrictions, with anecdotal reports of **200–250k t of basmati stranded** during the Iran crisis due to banking/shipping holds rather than pure port capacity.([reddit.com](https://www.reddit.com/r/exportersindia/comments/1rl8jzg/rice_cargoes_stuck_at_indian_ports_as_iran_crisis/?utm_source=openai)) • Air freight – India to Middle East & Africa (2026 dynamics) - Publicly available aviation/cargo commentary suggests: • Belly‑hold capacity on key India–Gulf passenger routes (Delhi/Mumbai to Dubai, Doha, Abu Dhabi, Riyadh, Jeddah) has **recovered to or exceeded pre‑COVID levels**, supporting relatively stable airfreight capacity for high‑value perishables, pharma and sample shipments. (General aviation data cross‑referenced with NITI’s trade analysis for early 2026.)([niti.gov.in](https://niti.gov.in/sites/default/files/2026-04/Trade-Watch-Quarterly-Oct-Dec-Q3-FY-2025-26.pdf?utm_source=openai)) • Middle East hub carriers (Emirates SkyCargo, Qatar, Etihad) plus Indian carriers continue to provide the bulk of lift to both **Gulf and onward Africa** (via DXB/DOH/AUH), helping moderate rate spikes despite geopolitical tensions. Capacity is described as **“tight but available”** during peak export windows (Ramadan build‑up, festive seasons).([niti.gov.in](https://niti.gov.in/sites/default/files/2026-04/Trade-Watch-Quarterly-Oct-Dec-Q3-FY-2025-26.pdf?utm_source=openai)) - Rate direction: • Spot air freight rates from India to the Middle East/Africa in early 2026 are **above 2019 but below pandemic highs**, with **risk add‑ons for lanes proximate to conflict zones**; high‑value, time‑sensitive commodities (pharma, premium seafood, fresh produce) absorb these surcharges more easily than bulk agri.([niti.gov.in](https://niti.gov.in/sites/default/files/2026-04/Trade-Watch-Quarterly-Oct-Dec-Q3-FY-2025-26.pdf?utm_source=openai)) • Timing & tactical signals for agri exporters (H2 2026 planning) - **Short‑term (next 1–3 months)** • Expect **continued volatility in container spot rates** on India–Gulf lanes tied to war‑risk premiums and bunker adjustments; booking windows for reefer and peak season space may need to be brought forward by 2–3 weeks.([niti.gov.in](https://niti.gov.in/sites/default/files/2026-04/Trade-Watch-Quarterly-Oct-Dec-Q3-FY-2025-26.pdf?utm_source=openai)) • Basmati exporters should factor in both **geopolitical risk and buyer inventory cycles**: basmati prices have already corrected 15–17% from Feb 2026 highs; renewed disruptions could create another short‑term downside or upside spike depending on conflict trajectory.([apeda.gov.in](https://apeda.gov.in/sites/default/files/2026-04/MIC_February_Monthly_dashboard_Rice_210326.pdf?utm_source=openai)) - **Medium‑term (rest of FY 2025–26 and into FY 2026–27)** • India’s large rice surplus and moderate global demand imply **downward pressure on ocean freight‑inclusive CIF price offers**, but any renewed tightening of export policy (duties/MEP) or escalation of Middle East conflict could offset this by raising delivered costs.([spglobal.com](https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/121225-commodities-2026-indias-surplus-rice-supply-to-weigh-on-global-prices-reshape-trade-in-q1?utm_source=openai)) • For spices and cashew, where value realization is more sensitive to quality and compliance than pure freight, **capacity looks sufficient**; exporters’ main timing trade‑off is between locking in current freight + commodity prices vs waiting for potentially softer sea freight if geopolitical risk premiums ease in late 2026.([english.gujaratsamachar.com](https://english.gujaratsamachar.com/news/national/indias-spice-exports-fall-5-3-in-fy26-as-chilli-cumin-shipments-weaken-80217082469.html?utm_source=openai)) If you’d like, I can next translate these into very specific tactical recommendations (e.g., when to time basmati vs non‑basmati bookings to Gulf vs East Africa, or how to hedge exposure using FOB vs CIF structures). Sources: • Indian fruit and vegetable exports grow despite U.S. tariffs https://www.freshplaza.com/north-america/article/9836674/indian-fruit-and-vegetable-exports-grow-despite-u-s-tariffs/?utm_source=openai • Evidence-Led Food Systems https://southasia.ifpri.info/files/2026/04/Compiled-v3_compressed-1.pdf?utm_source=openai • West Asia crisis: Rice exports dip 7.5% to $11.53 billion in 2025-26 | Economy & Policy News - Business Standard https://www.business-standard.com/economy/news/west-asia-crisis-rice-exports-dip-7-5-to-11-53-billion-in-2025-26-126042300499_1.html?utm_source=openai • Agri & processed food exports rise just 2% in FY26 - Economy News | The Financial Express https://www.financialexpress.com/policy/economy/agri-amp-processed-food-exports-rise-just-2-in-fy26/4209582/?utm_source=openai • INTERVIEW: India's rice exports likely to close at 30 mil mt in MY 2025-26, IREF says | S&P Global https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/092625-interview-indias-rice-exports-likely-to-close-at-30-mil-mt-in-my-2025-26-iref-says?utm_source=openai • West Asia crisis: Rice exports dip 7.5% to $11.53 billion in 2025-26 | Economy & Policy News - Business Standard https://www.business-standard.com/economy/news/west-asia-crisis-rice-exports-dip-7-5-to-11-53-billion-in-2025-26-126042300499_1.html?utm_source=openai • Agri & processed food exports rise just 2% in FY26 - Economy News | The Financial Express https://www.financialexpress.com/policy/economy/agri-amp-processed-food-exports-rise-just-2-in-fy26/4209582/?utm_source=openai