India has raised its import duty on wheat to 40 percent from 30 percent, the gov...
MUMBAI - India has raised its import duty on wheat to 40 percent from 30 percent, the government said late on Friday, as the world’s No. 2 producer of the grain tries to support local farmers.
Local wheat prices have fallen over 11 percent in 2019 due to ample supply from last year’s crop and forecasts of record output. India has raised the price at which it buys new-season wheat from local farmers by 6 percent to 1,840 rupees per 100 kg for 2019. Only one wheat crop is grown in India each year, with planting starting in late October and harvesting in March.
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