PM Modi lauds change in agri export policy, says will boost farmers income

Prime Minister Narendra Modi on Saturday lauded recent changes in agricultural export policies, stating that easing export norms on basmati rice and onions, and increasing import duties on some edible oils will boost farmers' incomes and create rural jobs.

On Friday, the government scrapped a USD 950 per tonne minimum export price (MEP) for basmati rice and removed a USD 550 per tonne MEP on onions, according to government statements.

The government on Saturday raised import duty on crude palm oil to 20 per cent and on refined sunflower oil to 32.5 per cent, aiming to support domestic oilseed farmers and processors.

In a post on X, Modi said the government is leaving no stone unturned to support farmers who work tirelessly for the country's food security.

"Whether it is reducing the export duty on onions or increasing the import duty on edible oils, many such decisions are going to greatly benefit our food producers. While these will increase their income, employment opportunities