Govt scraps minimum export price of $950 per/tonne on basmati rice

The government on Friday removed the minimum export price (MEP) of $950 per/tonne on basmati rice exports. However, it added that the Agricultural and Processed Food Products Export Development Authority (APEDA) "will closely monitor export contracts for any non-realistic prices for basmati exports". The removal is expected to boost exports and increase farmers' income.