India
Indian millers are calling for an immediate reduction or removal of the floor price for basmati rice exports to safeguard farmers’ income and boost global sales. Currently, the minimum export price (MEP) of $950 per metric ton is seen as a barrier that could lead to excess stock and reduce India’s competitiveness in the market.
India, a major exporter of basmati rice, has faced challenges due to a minimum export price (MEP) set last year, currently at $950 per metric ton. Millers argue that with the new-season crop arriving soon, the MEP should be abolished or significantly lowered to avoid losing market share to Pakistan and to ensure farmers aren’t burdened with excess stock. The All-India Rice Exporters’ Association has called for immediate action to protect the basmati rice industry and boost farmers’ earnings.
By Priyadharshini
