India reimposes import duty on wheat

28/03/2017,

The Government reimposed the 10 percent tax on wheat imports, which was removed in early December last year (FPMA Food Policies). Large import volumes in the past few months and the forecast of a bumper wheat harvest in 2017 prompted the Government to reinstate the tax. The measure aims to curb imports and prevent a sharp fall in prices ahead of the upcoming Rabi wheat harvest, which is officially forecast at 96.64 million tonnes, 5 percent above the good level of last year. A 10 percent import duty was also imposed on tur, a variety of pulse, following a steep decline in prices that was instigated by a bumper output and large import quantities.

Country: India