Rice prices in India have risen by up to 7% at the wholesale level within the last two days, spurred by a surge in export orders to the Middle East and the US following a ceasefire between the US and Iran. This increase comes after a prior 6% drop in prices due to disruptions caused by the Iran conflict, which had left approximately 400,000 tonnes of basmati rice stranded at ports or in transit. Dev Garg, vice-president of the Indian Rice Exporters Federation (IREF), noted that the impact of these price changes will soon be felt at the retail level. Payment disruptions have also been significant, with estimates of ₹2,000-2,500 crore (approximately $240-300 million USD) in exporter payments stuck, particularly in markets like Iran due to banking issues. However, the ceasefire has generated a positive sentiment among exporters, who are now preparing to ship both basmati and non-basmati rice, with containers already ready at Mundra and Kandla ports in Gujarat, India.