Export of Basmati Rice – DGFT changes MEP
As per the current Policy, export of basmati rice is allowed only if the minimum FOB price is US$ 1200 per ton or Rs.48 ,000/- per ton. Now this is changed to, “Export permitted only if the Minimum Export Price (MEP) is USD 1100 per ton FOB or Rs. 49500/-per ton.” So the Dollar Price is reduced to 1100/- and Rupee Price is increased to 49500 – Exchange fluctuations?
DGFT Notification No. 83 (RE-2008)/2004-2009 Dated: January 27, 2009