Indian Rice Exporters Federation urges members to avoid new CIF deals to Iran and Gulf amid US and Israel attack on Iran, Ayatollah Ali Khamenei's death, and rising risks in West Asia shipping.
An association of Indian rice exporters on Sunday advised its members to avoid new ’cost, insurance and freight’ commitments to Iran and Gulf destinations, amid deteriorating geopolitical situation in West Asia and possible restrictions on shipping through the Strait of Hormuz.
’Cost, insurance, and freight’ (CIF) is a shipping agreement that ensures a seller covers the costs, insurance, and freight of a buyer’s order when cargo is transported via a waterway.
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