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Government may raise import duty on wheat

22-Dec-2017
Government may raise import duty on wheat

Government may raise import duty on wheat

To protect domestic farmers from cheaper wheat imports, the government is likely to increase import duty on the grain, say officials in the food ministry. 

Currently there is a 20% duty on imported wheat. 

According to the trade, over 5 lakh tonne of imported wheat is lying in various Indian ports in the south, with no major buyers as prices have crashed in the domestic and global market. India is the world's second-biggest wheat producer. 

"The government may increase import duty on wheat. 

This will help increase area under the crop and also protect farmers from weak global prices," said an official. 


Source:- Economictimes.indiatimes.com




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