Basmati exporters stop buying to protest pricing curbs

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Basmati exporters and millers in Haryana, Punjab, and western Uttar Pradesh have stopped purchasing rice from wholesale markets due to the government's decision to maintain the minimum export price (MEP) at $1,200 per tonne. This high MEP makes it difficult for Indian basmati exporters to compete globally. Despite promises to lower the MEP to $900 per tonne, the government has not done so. Farmers are now facing losses as they are unsure where to sell their newly harvested basmati rice, which is primarily exported.

from Agriculture-Economy-News-Economic Times https://ift.tt/k3qpNro

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