India increases import duty on wheat

19/10/2015,

As of 19 October, the Government of India has raised the import duty on wheat from 10 to 25 percent. The measure aims to protect the domestic wheat market, and encourage the consumption of ample stocks of domestically produced wheat, by limiting overseas purchases, which are particularly competitive this season in the wake of falling global prices. Imports of high protein wheat varieties in particular have been on the increase since the beginning of the 2015/16 marketing year (April/March), reflecting tight supply of high quality wheat in the domestic market following unfavourable weather in the final stage of the growing season which affected crop quality. The increased level of duty is set to last until the 31March 2016.

Country: India