Mumbai, Dec 9 || Shares of leading Indian rice companies fell sharply on Tuesday, after US President Donald Trump hinted that he may impose fresh tariffs on agricultural imports, specifically targeting Indian rice and Canadian fertilisers.
The statement triggered immediate selling in stocks linked to the rice trade. LT Foods was the biggest loser, with its share price slipping 6.85 per cent to Rs 366.55.
Shares of KRBL also declined, falling 1.14 per cent, while GRM Overseas dropped 4.46 per cent.
The sudden slide reflected investor concerns that any new US tariffs could hurt export demand and impact earnings for these companies.
Trump made his remarks during a White House event where he announced new support measures for US farmers.