MEP Dropped on Basmati Export

[DGFT Notification No. 06 dated 4^th July 2012]

Subject: Removal of Minimum Export Price (MEP) of Basmati rice.

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby deletes the entry at Point  (ii) in the “Nature of Restriction” column [Column No. 6 of the table] against Sl. No. 57 in Chapter 10 of Schedule 2 of ITC(HS) Classification of Export and Import Items relating to Basmati rice.

2. All other conditions [Point (i); Point (iii) to (viii) in column 6 of the table against Sl. No. 57 in Chapter 10 of Schedule 2 of ITC(HS) book] remain unchanged.

3. Effect of this notification

Basmati Rice can be exported without any Minimum Export Price (MEP).