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No plans to hike wheat import duty, will remain at 10%, says Paswan

There are adequate supplies in the domestic market in view of the bumper crop in 2016-17: Paswan

Press Trust of India  |  New Delhi 

Ram Vilas Paswan, Paswan
Ram Vilas Paswan

Food Minister on Saturday said the has no immediate plans to further hike from the existing 10 per cent.

On March 28, an of 10 per cent was imposed on to curb in view of record domestic output at around 97.44 million tonnes in 2016-17 crop year (July-June). Prior to that, there was no duty at all for nearly four months.

"There are no immediate plans to increase on wheat," told reporters.

There are adequate in the in view of the bumper crop in 2016-17, he added.

import has not been much after the duty was imposed. Prior to that, private traders had imported about 5.5 million tonnes at zero duty till March-end, according to industry data.

Global prices of wheat are currently ruling high. For instance, prices of Australian wheat -- which India normally imports -- have gone up by 15-20 per cent due to likely lower crop. Some quantity of wheat from Ukraine is being imported, traders said.

The has sufficient wheat stock as it has procured 30.8 million tonnes of the 2016-17 crop and prices are also ruling stable in the range of Rs 18-20 per kg in

First Published: Sat, August 12 2017. 22:37 IST