Reduction for MEP of Basmati Rice, a big relief to exporters and farmers: MP Vikram Sahney
Press Release
24/10/2023
Reduction for MEP of Basmati Rice, a big relief to exporters and farmers: MP Vikram Sahney
Vikramjit Singh Sahney, Member of Parliament from Punjab appreciated the decison of Ministry of Commerce and APEDA for revising the Minimum Export Price of Basmati Rice from $ 1200 to $950.
This issue was raised by Punjab Rice Millers and Exporters association in the industrial interaction of Delhi and Punjab Chief Minister in Amritsar last month, where MP Vikramjit Singh Sahney was assigned the task to take up the matter with the central government.
Sh. Sahney said that the very day only he had communicated to the Commerce Ministry that it is not a rational decision and it will have an adverse impact on the Basmati Farmers and traders. There are almost 40 varieties of basmati rice ranging from USD 850 to USD 1600 per mt. Lower varieties of Basmati Rice contribute to 70% of the export market. This MEP imposed by the Central Govt. would have totally shattered the income of farmers and traders as the prices are going to crash because of this decision of MEP.
Sh. Sahney also said that this was not just a matter of one cropping season but it would have had larger Economic impacts on India. Pakistan is our competitor in the International Market for Basmati Exports. After India’s decision of 1200 USD MEP, Pakistan strategically pegged their MEP to 1050 USD, the international market forces would had imported all the rice from Pakistan only.
Sh. Sahney added that he would like to express his gratitude to the Ministry of Commerce who considered the request of Basmati Traders and revised the MEP to $ 950.
President of Punjab Rice Millers and Exporters Association Sh. Arvinder Singh, Lal Qilla, while thanking the commerce ministry for taking the much-needed step said that there was a complete Panic situation amongst all the traders of Basmati Rice but now with this decision we are much relieved to augment exports of Basmati Rice.