| Date: |
10-11-2017 |
| Subject: |
India doubles import duty on Wheat |
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India has doubled its import tax on Wheat to 20% as the world's second biggest producer tries to rein in imports to support local prices.
In the last two years, India has been importing Wheat after local production fell due to successive droughts. India had imported 5.75 million tonnes of wheat in the 2016/17 fiscal year ended on March.
The government also imposed 50% import tax on peas as prices of pulses fell below the government-set support level in the local market.
India imports peas mainly from Canada, Russia, United States and France. In 2016/17, India's pea imports jumped 41% from a year ago to a record 3.17 million tonnes.
Source: indiainfoline.com
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