September 24, 2024 4:58 PM
Basmati rice exports seen surging after floor price removed
India's decision to remove the floor price for basmati rice exports is expected to spur a flurry of orders from the Middle East, Europe, and the Americas, leading exporters said, helping New Delhi to increase its share of the global market. The world's biggest rice exporter earlier this month removed a floor price of $950 a metric ton for basmati rice, weeks ahead of the arrival of the new season crop. The minimum export price (MEP) posed a barrier to exporting certain basmati rice grades, and...