by aditya abhishek
Basmati rice exporters of India requested the Indian government to reduce the Minimum Export Price of the commodity to $900 per tonne from $1200 per tonne.
But the Indian government rejected this request of the basmati rice exporters to decrease the Minimum Export Price.
The message was conveyed to the Commerce Ministry and APEDA by the Food Ministry on Saturday. This arrangement will continue till further notice.
The basmati rice exporters are upset by this rejection as half of the country's basmati rice is exported at a premium price and has no connection with food security.
Earlier Punjab BJP President Sunil Kumar Jakhar also urged the Commerce Ministry to lower the MEP as it would help farmers and exporters.
During September, from sources, the news spread that the MEP of basmati rice may come down to $ 850 per tonne, but the request was rejected.
India is the largest exporter of Basmati rice in the world. From 2022 to 2023, basmati rice worth Rs. 38524.11 Crores was exported to countries.
However due to high MEP, the export has decreased, hence global basmati rice prices reached a 15-year high in various parts of the world.
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