UAE: Saudi Importers Threaten Legal Action Against Indian Exporters

Rice importers in Saudi Arabia have threatened lawsuits against Indian rice exporters for default on commitments and have started negotiating with Pakistan and Thailand for rice requirements.

Indian exporters have been faltering on commitments following imposition of export duty on basmati rice by the Indian government. With a view to discourage exports, the Indian government had imposed an export duty of Rs 8,000 PMT on basmati rice exports. It has also lowered the minimum export price (MEP) on export from USD 1,200 to USD 1,000 PMT.