<h1>India Lifts Floor Price on Basmati Rice Exports to Boost Trade; APEDA to Monitor Pricing and Transparency.</h1> The Government of India has removed the floor price on basmati rice exports to enhance trade of this premium rice variety. This decision follows trade concerns and sufficient domestic rice availability. The Agricultural and Processed Food Products Export Development Authority (APEDA) will oversee export contracts to prevent unrealistic pricing and ensure transparency. Initially, a floor price of $1,200 per metric ton was set in August 2023 due to domestic supply issues and to prevent misclassification of non-basmati rice. This was later adjusted to $950 per metric ton in October 2023 after feedback from trade bodies.