Will fall of Assad government affect energy cooperation between India and Syria?
Reportedly the coup in syria will spoil the taste of Indians. Vegetables and lentils in indian kitchens do not taste good without cumin and india is largely dependent on syria for cumin. syria is second in cumin production after India. Since the consumption of cumin is not much here, a large part of the total production has been earned by selling it to other countries. The bad situation in syria will badly affect the production and export of cumin there. This will increase the gap between the demand and supply of cumin at the global level and its prices will skyrocket.
Meanwhile this year the production of cumin in india has been 90 to 95 lakh sacks. Whereas, last year it was 55 to 60 lakh sacks. The consumption of cumin in the country is very high, so the export is less. But now when there will be a shortage of cumin at the global level due to the syria crisis, the cumin sellers of india will insist on exports, because they will earn more from there. This will cause a shortage of cumin in the local market and the prices will increase. In such a situation, cumin can become expensive in the country. This will reduce the supply of cumin in the kitchen.
Moreover the fall of the Assad government will also affect the energy cooperation between india and Syria. india gave a loan of $ 240 million for the syria Tishreen Thermal Power Plant Extension Project in May 2009. Similarly, indian companies have a long association with the Syrian oil sector since 2004, which includes two important investments of $ 350 million. ONGC Videsh Limited (OVL) entered syria in 2004 with a 60 percent stake in Exploration Block-24. Subsequently, OVL acquired a 37 per cent stake in Al Furat Petroleum Company (AFPC) in january 2016 along with china National Petroleum Corporation (CNPC).