Shafaqna India: India has removed the minimum export price (MEP) for basmati rice to support struggling farmers ahead of the new season, according to a government order. Previously, the MEP was set at $1,200 per ton, later reduced to $950. With rising supplies, exporters had pushed for the MEP’s removal to avoid excess stocks as the new crop approaches.
Satish Goel, president of the All-India Rice Exporters’ Association, said the move will boost exports and benefit farmers. India and Pakistan, the main producers of basmati, both promote it as a premium product. India exports 4-5 million tons annually to countries like Iran, Iraq, and the U.S.
Additionally, India also lifted the MEP on onions as part of broader measures to appease farmers before state elections.
