PATNA: The exports of several commodities, including makhana (fox nuts), have been adversely affected by the ongoing West Asia war, as traders are suffering owing to a huge drop in the demand and prices of the commodities.
Export operations at the Princeton Magadh Inland Dry Port in Bihta, on the outskirts of Patna, have been severely hit due to the ongoing war.
“Import-export activity has slowed down due to the ongoing conflict in Iran. This is having a tangible impact on the market. We remain hopeful that the situation will improve soon,” said Operations In-charge, Bihta Dry Port, Sudhir Kumar.
Bihar has incurred losses estimated at approximately `500 crore, as the closure of the Strait of Hormuz (for most shipping vessels) has resulted in more than just a petrol and gas crisis. It has also made the import of goods from West Asia—as well as the export of goods to the region—extremely difficult.
Consequently, commodities such as makhana, rice and vegetables are currently unable to be exported. A major portion of Bihar’s import and export trade relies on West Asian nations and the shipping routes that traverse the region.
Since Iran imposed a blockade on the Strait of Hormuz. This has rendered the export of rice, vegetables and makhana to Saudi Arabia, the UAE and Qatar increasingly difficult.