The Government of India has removed the Minimum Export Price (MEP) on the export of Non-Basmati White Rice, effective from October 23, 2024. This move aims to boost exports of the commodity.
Prior to this amendment, export of Non-Basmati white rice was subject to a MEP of USD 490/tonne. This included semi-milled or wholly milled rice, whether or not polished or glazed. Now the government has taken the decision to remove this export condition for MEP.
The decision was made through an amendment to the Foreign Trade Policy, specifically for the HS Code 1006 30 90, which covers Non-Basmati White Rice. The removal of the MEP is expected to make Indian non-basmati rice more competitive in the global market.
This step aligns with the government’s efforts to promote exports and boost the agricultural sector. Exporters can now freely trade non-basmati white rice, potentially leading to increased demand and higher revenues for the country.
