India Removes Basmati Rice Export Price Limit
Sep 13, 2024 19:58
India has removed the minimum export price (MEP) on basmati rice, aiming to boost exports and increase farmer income. The move is expected to benefit Indian rice exporters and farmers.
Photograph: Francis Mascarenhas/Reuters
New Delhi, Sep 13 (PTI) The government on Friday said the USD 950 per tonne minimum export price (MEP) on basmati rice has been removed.
Commerce and Industry Minister Piyush Goyal said the move will help boost exports and increase farmers' income.
"It has been decided to remove current minimum export price (MEP) of USD 950 MT for issuing Registration-cum-Allocation Certificates (RCAC) for export of Basmati Rice," according to a communication from the Department of Commerce.
The APEDA was requested to take immediate action to implement the decision.
However, it added that APEDA will closely monitor export contract for any non-realistic prices for basmati exports.
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