Posted on May, 30, 2024 at 10:18 am
The government may reduce import duty on wheat after six years to boost domestic supplies so that it would not have to dip into the stocks much for carrying out market intervention programme.
Sources said the decision to cut import duty on wheat would be taken up only after June, when the current procurement season officially ends, while a smaller quantity of grain is likely to be allowed to be imported.
“We have requested the government to cut import duty on wheat so that domestic supplies could improve without depletion of government stocks,” Dharmendra Jain, vice-president, roller flour millers federation of India, told FE.
The government may reduce import duty on wheat after six years to boost domestic supplies so that it would not have to dip into the stocks much for carrying out market intervention programme.
Sources said the decision to cut import duty on wheat would be taken up only after June, when the current procurement season officially ends, while a smaller quantity of grain is likely to be allowed to be imported.
“We have requested the government to cut import duty on wheat so that domestic supplies could improve without depletion of government stocks,” Dharmendra Jain, vice-president, roller flour millers federation of India, told FE.
Source: Financial Express