INDIA GETTING COMPETITIVE
The government of India today announced a complete removal of the minimum export price requirement for export of basmati rice from the country. For reference MEP is the minimum price at which a country can export its goods. The real world for commodities is price competition and India because of the norm was losing to competitors such as Pakistan, Philppines. With the MEP being done away with Indian rice exporters such as KRBL and LT Foods can compete on the global stage with rice exporters from low cost countries.
The government of India today announced a complete removal of the minimum export price requirement for export of basmati rice from the country. For reference MEP is the minimum price at which a country can export its goods. The real world for commodities is price competition and India because of the norm was losing to competitors such as Pakistan, Philppines. With the MEP being done away with Indian rice exporters such as KRBL and LT Foods can compete on the global stage with rice exporters from low cost countries.
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