Sat, Sep 14, 2024
In a recent policy shift, the Indian government has abolished the minimum export price (MEP) of USD 950 per tonne for basmati rice, a move expected to bolster export volumes and enhance farmer incomes. Commerce and Industry Minister Piyush Goyal announced that the MEP, which was previously reduced from USD 1,200 per tonne in October 2023, has now been completely removed. This decision is aimed at promoting international sales and supporting the basmati rice sector, while the Agricultural and Processed Food Products Export Development Authority (APEDA) will continue to monitor export contracts to prevent undervalued sales. India's basmati rice exports reached USD 5.9 billion in 2023-24, up from USD 4.8 billion the previous year.
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Wed, May 22, 2024
State-owned agencies have started procuring onions from the recent rabi (winter) harvest to build a targeted 5,00,000-tonne buffer stock for the current year, she added.
Sat, Jan 27, 2018
Low demand and supply of onions, tomatoes, bananas and raisins to the top exporting markets was the major contributing factor
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