“Abhishek Govilkar is bearish on the near-term outlook for Indian basmati rice exports due to the Strait of Hormuz crisis. Vessel traffic has collapsed over 90%, and freight charges have surged 20-22%, severely impacting exporter margins. He notes that the heavy reliance on the Middle East makes finding quick alternative markets difficult, and even a short ceasefire won't resolve the significant backlog and shipping discomfort immediately, exposing a structural concentration risk for Indian agri-exports.”