Government Lifts Minimum Export Price on Basmati Rice
The government has announced the removal of the USD 950 per tonne minimum export price on basmati rice, aiming to boost exports and increase farmers' income. Commerce Minister Piyush Goyal stated that the APEDA will monitor export contracts for unrealistic prices.
- Country:
- India
The government has removed the minimum export price of USD 950 per tonne on basmati rice, effective immediately, in a move anticipated to bolster exports and enhance farmers' income.
Commerce and Industry Minister Piyush Goyal announced the decision, saying that the existing price limit was a barrier to increasing overseas sales.
The APEDA has been asked to take immediate steps to implement the new policy and will keep a watchful eye on export contracts to ensure that prices remain realistic.
(With inputs from agencies.)
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- government
- export
- basmati
- rice
- price
- commerce
- industry
- Piyush Goyal
- farmers
- income
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