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Black Sea wheat shipments to India threatened by import tax hike


By Pavel Polityuk, Rajendra Jadhav and Polina DevittKIEV/MUMBAI/MOSCOW (Reuters) - India's decision to raise its wheat and peas import tax will reduce the flow of wheat shipments from the main Black Sea producers Ukraine and Russia and has already hit the Russian market for peas, traders and analysts said.India has doubled its import tax on wheat to 20 percent on Wednesday, as the world's second biggest producer tries to rein in imports to support local prices.The move is a significant blow for Ukraine, India's largest supplier, and there are concerns that Kiev will now need to cut prices to ...

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First Published: Fri, November 10 2017. 16:54 IST