Export of Rice - Minimum Export Price [MEP] - Notification amended
As per DGFT Notification No. 5/2009-2014 dated 7.09.2009,
“2. Export permitted only if the Minimum Export Price (MEP) is US $ 900 per ton or Rs. 41,400/-per ton FOB.”
3. Export of Basmati rice, as above 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).
Now this para 3 is changed to read as:-
“In case any foreign commission is paid at the time of exports or subsequently then MEP shall be higher than US $ 900 per ton, to the extent of foreign commission paid / payable and MEP of US $ 900 per ton shall be maintained, exclusive of the foreign commission.”
DGFT Notification No. 21 /2009-2014, Dated: December 14, 2009