NEW DELHI, Mar 23 (Asia Pulse) – Sanction-struck Iran is looking to import four major farm commodities — wheat, rice, sugar and tea — from India, an export body FIEO said. “They (Iranian traders) want to import four major agri commodities from India. They are wheat, sugar, tea and rice,” Federation of Indian Export Organisations (FIEO) President Rafeeque Ahmad said.
There is a huge business opportunity between the two countries with the resolve of payment issues, he said.
Already, Iran has signed import contracts with India for 1.25 lakh tonnes of soyameal, used as animal feedstock.
The shipments would be delivered in next two months, according to Indore-based Soyabean Processors Association of India (SOPA).
Besides agricultural commodities, FIEO’s Ahmad said that the Middle East nation is also interested in purchase of pharmceuticals and auto components from India, he added.
India is in a comfortable situation to export due to record production of wheat at 88.31 million tonnes and rice at 102.75 million tonnes in the 2011-12 crop year (July-June).
On issues relating to advance payment and advance remittances, Ahmad said, “The UCO Bank offic