Centre removes $950/MT MEP on Basmati exports

The Centre has removed the minimum export price (MEP) of $950 per metric tonne on Basmati rice after demands from Punjab’s rice millers and farmers. This decision is expected to boost global market access for Indian exporters and ensure better prices for local growers. The MEP had previously hindered exports, benefiting Pakistan instead. The Union ministry of commerce conveyed this change to the Agricultural and Processed Food Products Export Development Authority. India remains a top exporter of Basmati rice globally, with major destinations including Saudi Arabia, Iran, Iraq, USA, and Yemen.