ITC hopes wheat imports to remain near decade high

World's second-biggest consumer of wheat on Tuesday imposed a 10% duty on imports

India’s wheat imports are likely to remain near the highest in a decade, as the world’s second-biggest producer seeks to replenish stockpiles slashed by El Nino-induced drought, according to ITC. Imports may reach 3 million tonnes in 2017-18, S Sivakumar, CEO of the ITC's agriculture business division, said. That would be the second-highest level in the past decade, although down from estimates for 5.5 million tonnes in 2016-17. India is seeking to rebuild stockpiles that likely plunged 44 per cent in March from a year earlier to 9.43 million tonnes, according to state-run Food Corp. India has been purchasing high-protein