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"Owing to the government of India's decision to reduce the minimum export price (MEP) of basmati rice, the country's basmati rice exports are expected to surge by a whooping 33% during the season starting October.
India's Food and Agriculture Minister Sharad Pawar had announced lowering of MEP of basmati to $ 900 PMT from the present level of $ 1,100 PMT.
India's basmati rice exports in the current calendar year ending December are likely to remain unchanged at 1.2 million MT from the previous year.
India's Basmati rice exports are likely to be stable despite good international demand, as the output of the crop remains almost the same as previous years." |
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