Centre may slash import duty on wheat to curb rising prices

India has not planned to import wheat from any country under government-to-government scheme, said government sources

August 5, 2023

No plans to import wheat: Centre

The government is likely to slash the import duty on wheat due to rising domestic prices of the staple commodity, official sources said.

Wheat prices have gone up to Rs.2,500 per quintal and with the festival season around the corner, if the government cuts duty now, then it will take imported wheat around 30 to 40 days to reach India, and the landing cost would then be equal to Rs.2,500 per quintal, sources said.

In June, the government imposed a stock limit on wheat to bring down prices.

Government sources, however, ruled out any move to import wheat from Russia, adding that there were “umpteen measures available” to keep prices of the grain under control.

The sources said all measures were being considered to keep wheat prices down, but there was no proposal to import wheat by any government agency.

[With Inputs from IANS]

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