(MENAFN- KNN India) New Delhi, Aug 17 (KNN)

The newly elected governing body of the All India Rice Exports Association (ARIA) convened in New Delhi on Friday to address pressing concerns within the rice industry.

The meeting, presided over by ARIA President Satish Garg, focused on the challenges posed by the current high Minimum Export Price (MEP) and the ban on non-basmati rice exports.

The association unanimously resolved to engage with the central government to seek prompt resolution of these issues.

Ranjit Singh Jossan, speaking on behalf of Punjab’s rice exporters, highlighted the need to revise the MEP for basmati rice.

“The central government set the MEP at USD 950 last year. With a bumper basmati crop anticipated in Punjab, Haryana, and North India this season, it is crucial to reduce the MEP to USD 750,” Jossan stated.

He further elaborated on the potential benefits of this adjustment, saying, “Lowering the MEP would ensure fair compensation for farmers and align with the government’s objective of doubling farm incomes. It would also help maintain our global market competitiveness.”

The association’s appeal comes at a time when the Indian rice export sector faces significant challenges due to regulatory measures.

ARIA’s proactive approach in seeking dialogue with the government underscores the urgency of addressing these concerns to support both farmers and exporters in the evolving global rice market.

As discussions continue, the outcome of this initiative could have far-reaching implications for India’s position in the international rice trade and the economic well-being of its agricultural community.

(KNN Bureau)

Published Date: August 17, 2024