India Hikes Minimum Export Price Of Non-Basmati Rice

India has decided to increase the minimum export price of non-basmati rice for the second time this month to $1,000 PMT, FOB in a move aimed at augmenting local supplies and also to control rising inflation.

 By hiking the MEP, rice exporters from India will now be able to export basmati varieties priced above $1,100 PMT while for non-basmati rice export of varieties priced above $1,000 PMT would only be allowed.