mep slash on basmati rice provides relief to exporters in Punjab: parliament member
Published on: October 24, 2023.
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Punjab MP Hails Centre’s Revised MEP for Basmati Rice Export
CHANDIGARH: In a significant development, the minimum export price (MEP) of basmati rice has been revised by the Centre from $1200 to $950 per tonne. This decision has been warmly appreciated by Punjab MP Vikramjit Singh Sahney.
The issue of MEP was raised by the Punjab Rice Millers and Exporters Association in a meeting with Chief Minister Bhagwant Mann. Sahney was assigned the task of taking up the matter with the Central government.
Sahney, in his communication with the Union Commerce Ministry, had pointed out that the decision was not rational and would negatively impact both the growers and traders. He further emphasized that this issue had far-reaching economic implications for the entire country and not just one cropping season.
“Pakistan is a formidable competitor in the international basmati export market. In response to India’s MEP of $1,200, Pakistan strategically set their MEP at $1,050. This move would have resulted in the international market sourcing its rice exclusively from Pakistan,” Sahney stated.
Expressing his gratitude, Sahney acknowledged the Ministry of Commerce for considering the request of basmati traders and revising the MEP. He praised the government’s responsiveness and commitment to supporting the industry.
Arvinder Singh, the President of the Punjab Rice Millers and Exporters Association, shared his relief after the revised MEP decision. He stated that the traders of basmati rice had been facing panic, but with this revision, they are now optimistic about boosting exports.
This decision is expected to have a positive impact on the basmati rice industry in India. It will help maintain India’s competitiveness in the global market, considering Pakistan’s strategic pricing tactics.
With the revision in MEP, Indian basmati rice exporters can now confidently explore international markets and expand their reach.
Source: [Punjab News Express](https://www.punjabnewsexpress.com){:target=”_blank” rel=”nofollow”}
