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Below the Quote On Government`s Decision To Reduce The Basmati Rice Export Floor Price By Mr. Atul Garg MD GRM Overseas

"The government’s decision to reduce the minimum export price (MEP) of basmati rice from $1200 to $950 a tonne is a welcome development, as it will reinstate competitiveness of Indian basmati rice shipments at the global markets. Exporters are now working towards regaining the lost ground. As a result, the buying cycle is showing signs of getting the momentum back. The decision to cut MEP of basmati rice will benefit all key supply chain stakeholders. The continued industry representation and consultation with the government have finally yielded the desired result. The All India Rice Exporters' Association (AIREA) has played a commendable role in effectively conveying the industry concerns to the government and ultimately convincing the concerned authorities to reduce the MEP to make basmati rice exports viable. The reduction in the MEP will again make Indian premium quality basmati rice attractive to the global buyers."  - Mr. Atul Garg, MD GRM Overseas

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