India is reportedly considering a reduction in the minimum export price (MEP) for basmati rice from $1,200 to $950 per metric tonne. Initially imposed to control local prices, the MEP had disrupted trade, leading to dissatisfaction among farmers and exporters. The proposed move aims to address these concerns, helping both farmers and exporters who suffered from the higher MEP. India, a major exporter of basmati rice, is seeking to resume trade with countries like Iran, Iraq, Yemen, Saudi Arabia, the United Arab Emirates, and the United States, where basmati rice is highly valued for its premium quality.