India cuts basmati rice export floor price to $950 a ton - source

India had imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments in August to keep a lid on local prices ahead of key state elections.

(Reuters) - India has cut the floor price for basmati rice exports to $950 per metric ton from $1,200, a government source told Reuters on Thursday.

(Reporting by Mayank Bhardwaj in New Delhi; Editing by Andrew Cawthorne)