MEP Minimum Export Price for Basmati Rice to USD 950 per ton from USD 1200,
The Union Government has decided to reduce the minimum export price (MEP) for the long-grained basmati rice to USD 950 per tonne from USD 1200 per tonne, the rice exporters claimed on Monday.
The decision was taken by the minister of commerce and industry, consumer affairs, food and public distribution Piyush Goyal in a virtual meeting with the rice exporters, they said.
Talking to HT, Vijay Setia, former president of All India Rice Exporters Association (AIREA) said that the Union Government has accepted the demand of the rice exporters to fix the basmati MEP to USD 950 per tonne.
Setia said that the rice exporters and traders have welcomed the move and thanked the union minister for taking the decision in the interest of farmers and exporters.
The decision will not only help to increase the income of basmati growers but it will also protect the rice exporters from the losses they were predicting as there were no buyers to purchase the rice at USD 1,200.
sour Hindustan times