New Delhi, September 26 (SocialNews.XYZ) The government may consider lowering the minimum export price (MEP) of basmati rice amid reports that Pakistan has set a price of $1,050 per tonne for the commodity.
As per reports, the Centre may reduce the MEP on basmati rice by around $300 per tonne from the existing $1,200 per tonne to counter Pakistan's move.
Union Commerce and Food Minister Piyush Goyal is learnt to have held a virtual meeting with basmati exporters, where the decision was apparently taken.
According to reports, the decision has been taken to maintain Indian basmati rice's global competitiveness.
the government may announce the cut in basmati 's MEP this week, the reports said.
Some varieties of rice are grown for export purposes and they don't have any impact on the domestic market.
Last month government had banned basmati rice exports to prevent fraudulent shipments of non-basmati rice disguised as regular basmati rice.
Source: IANS
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
