Government has removed MEP of $490 on non-basmati white rice
The government has removed the minimum export price (MEP) of $490 per ton on non-basmati white rice, according to a notification issued by the Directorate General of Foreign Trade (DGFT). This move aims to boost the export of this commodity. On September 28, the government lifted the complete ban on the export of non-basmati white rice and imposed the MEP. The DGFT's notification stated, "The requirement of MEP for the export of non-basmati white rice has been removed with immediate effect." On July 20, 2023, the government had imposed a ban on the export of non-basmati rice. These measures were taken when the country had ample rice stock in government warehouses, and retail prices were under control. Previously, the government had also removed the minimum export price for basmati rice to promote exports and increase farmers' income. India exported non-basmati white rice worth $201 million during April-August of the current fiscal year. In the 2023-24 fiscal year, exports totaled approximately $852.52 million. Although there was an export ban, the government allowed exports to friendly nations such as the Maldives, Mauritius, the United Arab Emirates (UAE), and countries in Africa. This variety of rice is widely consumed in India and has significant demand in global markets, especially in countries with large Indian diaspora communities. The ongoing conflict between Russia and Ukraine is one of the factors disrupting the food supply chain.