The government on Saturday notified the reduction of the Minimum Export Price (MEP) of three superior non-basmati rice varieties - Sona Masuri, Ponni Samba and Matta - by $250 a tonne to $600 a tonne.
“MEP of Sona Masuri, Ponni Samba and Matta varieties of rice is reduced to $600 a tonne. It was $850 a tonne as notified on March 31, 2011,” Directorate General of Foreign Trade (DGFT) said.
The government had allowed exports of 1.5 lakh tonnes of select premium variety of non-basmati rice.
India’s rice production increased to 95.32 million tonne in the 2010-11 crop year (July-June) from 89.09 million tonne in the previous year.