Export of Rice – MEP reduced
THE DGFT has reduced the Minimum Export Price ( MEP ) of Rice from 1100 US Dollars to 900 US Dollars that is from Rs. 49500 to Rs. 41400.
Export of Basmati rice, shall be subject to the additional condition that foreign commission upto 12.5% is to be allowed for computation of MEP and any discount /commission in excess of 12.5% will not be allowed for calculation of MEP (and FOB price will have to be higher to that extent).
DGFT Notification No. 5/2009-2014, Dated: September 7, 2009