Basmati Rice Exporters in Punjab Relieved by MEP Reduction, Says Local MP
Published on: October 24, 2023.
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Punjab MP Applauds Revised Minimum Export Price of Basmati Rice
In a significant move, the Centre has revised the minimum export price (MEP) of basmati rice from $1200 to $950 per tonne. This decision has been welcomed by Punjab MP Vikramjit Singh Sahney, who played a pivotal role in raising the issue with the Central government.
The Punjab Rice Millers and Exporters Association had previously discussed this matter with Chief Minister Bhagwant Mann, who assigned Sahney with the responsibility of taking it up with the Central government. Sahney, in turn, reached out to the Union Commerce Ministry, stating that the initial decision was not rational and would negatively impact both growers and traders.
Sahney pointed out that this issue extended beyond a single cropping season and had wider economic implications for India. He acknowledged that Pakistan is a tough competitor in the international basmati rice market. In response to India setting the MEP at $1,200, Pakistan strategically reduced its MEP to $1,050. This move would have resulted in all rice imports being sourced from Pakistan.
Expressing his gratitude, Sahney commended the Ministry of Commerce for considering the request of basmati traders and revising the MEP. This decision has brought much-needed relief to Punjab Rice Millers and Exporters Association President Arvinder Singh, who previously expressed concerns about the impact on basmati rice traders.
With the revised MEP in place, exporters can now enhance their efforts to expand basmati rice exports.
To read the original article, click on the following link: [Source](https://www.punjabnewsexpress.com)
