India doubles import duty on wheat

14/11/2017,

On 8 November, the Government doubled the import duty on wheat to 20 percent, after reintroducing it in March this year (FPMA Food Policies). The measure aims to curb imports, support local prices and boost production, with planting of the 2018 rabi crop currently ongoing. Large domestic availabilities following large import volumes in the past months and a bumper crop in 2017 prompted the Government to first reinstate the tax and then increase it. In addition, a 50 percent import duty was imposed on peas to support their prices. Recently, the Government had also raised the minimum support price for 2018 rabi crops including wheat (FPMA Food Policies) and imposed quantitative restrictions on imports of pulses in August, following a bumper harvest and concerns over a fall in price.

Country: India