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Date: 27/09/2024

Basmati rice exports seen soaring after MEP removal
 
India’s decision to remove the minimum export price (MEP) for basmati rice exports is expected to spur a flurry of orders from the Middle East, Europe and the Americas, leading exporters said, helping New Delhi to increase its share of the global market. The world’s biggest rice exporter earlier this month removed a floor price of $950 a metric ton for basmati rice, weeks ahead of the arrival of the new season crop. This policy change has enabled Indian exporters to offer basmati rice at more competitive prices globally, which is likely to drive higher export volumes, as per a report.
 
Source: Exim News Service: New Delhi, Sept. 26



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